If a credit marked as "Upon receipt by the beneficiary of notice from the issuing bank that a draft has been . paid under this credit, a sum equal to the amount of such draft again become available under the credit" it is a (n) a. accumulative revolving credit b.non- accumulative revolving credit c.automatically revolving credit in relation to value d. non- automatically revolving credit in relation to value
If a credit marked as "Upon receipt by the beneficiary of notice from the issuing bank that a draft has been . paid under this credit, a sum equal to the amount of such draft again become available under the credit" it is a (n) a. accumulative revolving credit b.non- accumulative revolving credit c.automatically revolving credit in relation to value d. non- automatically revolving credit in relation to value
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 9MC: Which method delays recognition of bad debt until the specific customer accounts receivable is...
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7.If a credit marked as "Upon receipt by the beneficiary of notice from the issuing bank that a draft has been . paid under this credit, a sum equal to the amount of such draft again become available under the credit" it is a (n)
a. accumulative revolving credit
b.non- accumulative revolving credit
c.automatically revolving credit in relation to value
d. non- automatically revolving credit in relation to value
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