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Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946

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BuyFindarrow_forward

Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946
Textbook Problem

How can a bank or other financial institution help American businesses to compete in the global marketplace?

Summary Introduction

To determine: The ways in which a bank or other financial institution help American businesses to compete in global marketplace.

Introduction: A financial institution is a mediator amongst customers and the capital or the debt markets giving managing an account and investment administrations.

Explanation

The ways in which a bank or other financial institution help American businesses to compete in global marketplace are as follows:

  • Banks are capable of assisting by giving a letter of credit, a banker's acknowledgment, as well as cash exchange.
  • A letter of credit is an authoritative report issued by a bank or other monetary foundation ensuring to pay the vender an expressed amount for a predefined timeframe...

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