defination of letter of credit

Answer Posted / chandni

A binding document that a buyer can request from his bank in
order to guarantee that the payment for goods will be
tranferred to the seller.

Is This Answer Correct ?    10 Yes 2 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

let me know the difference between net cash flow and income

1774


1.tell about urself? 2.wt is BRS? 3.VAT? 4.Golden principle of accounting?

2009


what is sevice tax? on what service tax is applicable. explain with examples?

1606


What is the rule on a school who will be handled by anither school? How do I calculate the royalty per year to the school who will supervise a new school

1554


EXPAND___________INMA

1539






whether unsecured loans written off can be transferred directly to capital reserve without crediting it to profit and loss account

1867


What are Home Equity Loans ?

1747


Short Answer on _______Appropriation

1433


Transfer nett profit of Rs 325000/- to Reserves and Surplus

1965


Expand---------MNOP

1593


What do you mean by Adjustment

1447


Who will be called as consignee

1630


1. Fdr mature with interest

1370


explain sales/purchase accounting?

1758


What z d diff of accounting principle,accounting standard,accounting rules,accounting procedures,accounting concepts??????

1891