Discuss the sanctions associated with issue of dud cheques

Q: How do IFRS and U.S. GAAP differ with respect to the classification of debt that is expected to be…

A:

Q: Discuss how the national credit act treats reckless trading

A: Nationnal Credit Act:- It is an Act for all consumers who seeks credit in market palace. this act…

Q: What is the most risky payment method for the importer company? A) Advance payment B) On-off…

A: SOLUTION- CASH IN ADVANCE IS CLEARLY THE MOST RISKY OPTION FOR AN IMPORTER . FOR IMPORTER THE MAJOR…

Q: What are warranty payments? Please explain.

A: A Warranty is a basically a handwritten promise made by the seller to the buyer on paper that if the…

Q: Which of the following is not a Money Market Instrument? a. Commercial Paper b. Debentures c.…

A: Money market is related to short term debt instruments and not long term debt instruments.

Q: How an Ijarah contract is different from an installment-based credit sale?

A: Ijarah denotes a contract where one party transfers the right to use an item he owns to another…

Q: How does the Trade notes payable differ from accounts payable?

A: Difference: Accounts payable is a short-term liability that is owed by the supplier to the creditor…

Q: A promissory note is"inchoate" until it has been delivered to the____ a. payer or bearer b.payee…

A: Lets start with basic understanding. As per bill of exchange Act 1982, Promissory note is a…

Q: What is a key difference between a short-term note payable and a current portion of a noncurrent…

A: Short term note payable is a debt which is required to be paid within a period of less than one…

Q: why a organisation should consider hedging net payables or net receivables with currency options…

A: Answer: Hedging is nothing but an investment risk management strategy that reduces or controls the…

Q: The short-term loan that are given to importers and exporters are known as; a. Re-purchase agreement…

A: When the payment is a guarantee by the banks rather than the account holders it is referred as the…

Q: Discuss the primary differences between U.S. GAAP and IFRS with respect to current liabilities and…

A: Generally Accepted Accounting Principles (GAAP): Generally Accepted Accounting Principles are the…

Q: Describe about the trade credit procedure.

A: Trade: Trade refers to buying or selling goods and service in exchange of money or money’s worth.

Q: A long-term note receivable should be disclosed in Other Assets in a classified balance sheet

A: Answer: Balance sheet consists of assets and liabilities and the classification of assets and…

Q: Which steps should be followed to set up the different types of payments accepted from clients?

A: Payments from clients refers to the term that implies that when a customer buys some product or…

Q: What is the revolving credit arrangements in the exposure draft, Topic 470?

A: The FASB issued an Exposure draft titled debt (470) which aims at simplifying the classification of…

Q: A promise to pay the face amount of the draft to whomever presents it for payment made by banks to…

A: Commercial paper is a form of unsecured short term debt to finance the short term needs of the…

Q: Explain Issuance of loans to unworthy entities with examples

A: Issuance of loan to unworthy entities means granting of loans to the entities having a poor…

Q: Does Loan Meet Written Loan Policy and How Would Loan Be Affected By Changing Laws and Regulations…

A: Lenders utilise the five C's of credit to assess the creditworthiness of potential borrowers. The…

Q: Explain the mode of delivery in foreign contracts.

A: It is defined as the delivery as a part of the contract of trade between the seller and the buyer.…

Q: Customs brokers are usually compensated on a. a percentage of the tariff.d .a schedule set by the…

A: Custom brokers help the exporters as well as importers in requirements laid down by the govts in…

Q: Explain the concept of American depositary receipts (ADRs).

A: Answer: Meaning of American depositary receipts (ADRs): American negotiable securities that signify…

Q: Discuss the Basel disintermediated scenario and its impact on incumbent banks?

A: Better Bank: modernization of incumbent actors and digitalization The new bank: substituting…

Q: For VAT and Percentage transactions, state when will be the deadline for the remittances

A: VAT is value added tax and it is indirect tax which means tax is paid by consumer of goods or…

Q: The VAT on government is described as a final withholding system creditable system no answer is…

A: VAT is the value added tax . It is a flat tax levied on an item. It is an indirect tax  and a…

Q: what are the legal aspects concerning bill discounting?discuss the decision analysis for factoring…

A: Bill Discounting is a business-related activity in which unpaid bills from a firm that are expected…

Q: What are the requirements about forms of Bills or Notes under ULB?

A: "Since you have asked multiple question, we will solve the first question for you. If…

Q: What is a promissory note, and what terms are normally included in promissorynotes?

A: A document or agreement that promises the payment of a specific sum of money at a later date to the…

Q: Why debtor countries are staying away from using Covid-19 Debt Service Suspension Initiative (DSS)…

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Q: What is meant by a promissory note?

A: The amount due to be paid for loan can be promissed by customer by issuing promissory note.

Q: describe foreign currency transaction exposure, including accounting for and disclosuresabout…

A: International trade is the mechanism through which the goods and services of one country are bought…

Q: Endorsement

A: Introduction: The process of signing at the back of a check when it is received from someone before…

Q: What is trade-off credit and collection policies and its compositions?

A: A external financing is an agreement agreement understanding between partners that facilitates the…

Q: Briefly describe the concepts of; Letter of credit, trade deficit, negotiable instrument and credit.

A: Letter of credit is a financial instrument that is used as a mode of payment specifically for…

Q: Distinguish between suspension of payments and insolvency.

A: Suspension of payment Suspension of payment implies temporary financial problems by enabling him/her…

Q: Discuss the risks posed by credit derivative contracts and standby letter of credit.

A: Credit derivative is referred to as the financial contract, which used to allow the parties for…

Q: Which of the following modes of disbursement is most similar to a check disbursement?

A: Disbursement in the basic terms refers to the payment of funds in exchange for the services taken by…

Q: Evaluate whether IB can charge fee on extending commercial guarantee.

A: An introducing broker(IB) are the brokers in the future market who have a close connection with the…