What is LC?
Answers were Sorted based on User's Feedback
Answer / guest
LC or Letters of credit are used primarily in international
trade transactions of significant value, for deals between a
supplier in one country and a customer in another.
Is This Answer Correct ? | 9 Yes | 6 No |
Answer / digant
A letter from a bank guaranteeing that a buyer's payment to
a seller will be received on time and for the correct
amount. In the event that the buyer is unable to make
payment on the purchase, the bank will be required to cover
the full or remaining amount of the purchase.
Is This Answer Correct ? | 4 Yes | 2 No |
Answer / digant
A letter from a bank guaranteeing that a buyer's payment to
a seller will be received on time and for the correct
amount. In the event that the buyer is unable to make
payment on the purchase, the bank will be required to cover
the full or remaining amount of the purchase.
Is This Answer Correct ? | 2 Yes | 1 No |
Answer / ananthreddy
Letters of credit are used primarily in international
trade transactions of significant value, for deals between a
supplier in one country and a customer in another.
Is This Answer Correct ? | 1 Yes | 1 No |
Answer / kanwarpal
LC-Latter of credit. lc opened by the customer against
supplier payment in lc due date, when lc opened than
supplier can bring payment from bank with purchase discount
before lc due date but bank debit the lc amount to lc opener
after lc due date, lc opened for 90 days.
Is This Answer Correct ? | 0 Yes | 0 No |
a proprieter company purchase a software what is the journal entry in tally ?
Among financial and cost accounting,which is more important? why?
what is Cost of Goods Sold give example?
what is enty of income tax paid by company.& what is group of income tax paid.
The Trial balance will show only the Opening Stock & Purchase for any given period, but for Profit and loss, we have to calucate the Opening + Purchase – Closing stock ?
difference between loans & advances
what made you take up present subject/area of specialization and what would you define as your career objectives
what is accountin statndards
How you will treat purchase of phones & software CD's in Tally. what are the heads for both.
Does anyone have any other recent Factset interview questions?? what other types of technical questions do they ask consultants?
net worth is: 1)total assets less outside liabilities 2)total liabilities plus owner equity 3) current assets less current liabilities 4) total accumulated profit less liabilities choose correct and with deatail.
WCT DEFINATION