International Financial Management
14th Edition
ISBN: 9780357130698
Author: Madura
Publisher: Cengage
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When should companies that sell gift cards to customersreport revenue?
(a) Tawarruq contract is used in both personal financing product and home financing product of Islamic banks. Discuss how Tawarruq is accepted to be used in both products.
If you are the seller will you provide discount for customers? Why or why not?
What type of discount will you provide for your customers?
How will you account for this discount? Answer this by giving a sample problem including the debit and credit entries.
If you are the buyer, will you get discounts for your suppliers? Why or why not?
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- Conduct research on a real-world retailers trade discounts and policies, and discuss the following questions. Which company did you choose? What do they sell? What is a trade discount? What products are subject to a trade discount? Describe the discount terms/program in detail. Give examples. Are there any restrictions? What incentive does this company have to give a trade discount? How does this discount benefit the buyer? If the buyer had to choose between receiving a trade discount or regular cash purchase discount, which would benefit them more? Why?arrow_forwardAssume you are proprietor of any firm you like. Briefly describe the products or servicesyour firm will offer for sale. Would you extend trade credit to your customers? Why orwhy not? How will this decision affect your sales and profits? If you choose to extendcredit, how would you ensure that your firm is paid by its customers?arrow_forwardDisclosure Note 2 discusses Target’s accounting for gift card sales. Does Targetrecognize revenue when it sells a gift card to a customer? If not, when does itrecognize revenue? Explain.arrow_forward
- What are the different types of deposit accounts and loans offered to customers Bank Nizwa in Oman? How will it benefit the account holders and borrowers?arrow_forwardWHAT DOES EXIM BANK JAMAICA DO?arrow_forwardWhy should a business engaged in merchandising always try to negotiate with its vendors, the shipping terms of FOB Destinationarrow_forward
- How an investment or saving account can be opened in an Islamic Bank? Under what contract these accounts are opened? What will be the role of an Islamic Bank and customer in this contract? (kindly give me an answer asap!!!)arrow_forwardIf we pay our suppliers for supplies that we had previously purchased, we will need to ____ Accounts Payable. a.Debit b. Creditarrow_forwardAn alternative to using a letter of credit is export credit insurance. What are the advantages and disadvantages of using export credit insurance rather than a letter of credit for exporting a luxury yacht from California to Canada and machine tools from New York to Ukraine? Explain your answer fully and cite sources.arrow_forward
- Provide a detailed explanation of the trade financing methods employed by the Walmart company? Please define each form of financing and explain the reasons behind the Walmart company's choice to utilize these specific methods.arrow_forwardWhich of the following situations may give rise to unearned revenue? Select one: a. Providing trade credit to customers. b. Selling inventory. c. Providing manufacturer warranties. d. Selling magazine subscriptions.arrow_forwarda.How an investment or saving account can be opened in an Islamic Bank? Under what contract these accounts are opened? What will be the role of an Islamic Bank and customer in this contract?arrow_forward
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