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Archy [21]
3 years ago
9

In June, The Seascape Gallery sells an oil painting to Collegiate Systems, Inc. Collegiate promises to pay for the painting in t

hree months. The gallery prepares a draft ordering Collegiate Systems to pay $3,000 to First Bank on September 15. Collegiate Systems signs the draft. The draft is aGroup of answer choicesSight draftFuture draftTime draftTrade draft
Business
1 answer:
sleet_krkn [62]3 years ago
3 0

The correct answer is C. Time draft

Explanation:

In trade, a time draft is a document that acts as credit, this means the buyer of the product can get the product and pay it after a certain amount of time, which is stipulated through the draft. Moreover, this draft is accepted by both the buyer and the seller, and it is most commonly used in international trade. This type of draft is the one used in the case presented because the payment will occur in the future rather than immediately as it occurs in other types of drafts such as a sigh draft or in regular trade drafts. Also, in this case, the buyer obtained the good (oil painting) before payment occurs and the draft acts as a promise of paying.

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Last year Electric Autos had sales of $100 million and assets at the start of the year of $150 million. If its return on start-o
kvv77 [185]

Answer:

22.50%

Explanation:

Amount of return on asset = Rate of return * Asset value

Amount of return on asset = 15% * $150 million

Amount of return on asset = $22.5 million

Operating profit margin = Amount of return on asset / Sales

Operating profit margin = $22.5 million / $100 million

Operating profit margin = 0.225

Operating profit margin = 22.50%

8 0
3 years ago
You are reviewing your checking account balance of $800 after you've just sent in your rent check of $500. How much money is ava
inessss [21]

You are reviewing your checking account balance of $800 after you've just sent in your rent check of $500. The money that is available for you is $1300.

<h3>What we can do if we don't have sufficent balance?</h3>

If you had a check that you don't have sufficient funds for that has been run through the bank the bank will usually charge you an overdraft fee.

This means that you have arranged an overdraft loan/agreement with the bank. The bank will go ahead and pay the fund to the person or company you wrote the check to.

You will have a certain amount of time to put the money back into your account and pay the overdraft fee.

Learn more about Checking account, refer to the link:

brainly.com/question/9683236

#SPJ1

8 0
2 years ago
Which type of advertisement is most likely to make you submit your ad far in advance?
dsp73
The type of advertisement that is most likely to make somebody submit their ad far in advance would be direct mail advertising. 

Direct ads 
for short.
7 0
3 years ago
Read 2 more answers
Bookmarks are shared between different browsers. <br><br> True <br> False
inessss [21]

the correct answer is false. i took the test and true was wrong. so false is correct


6 0
3 years ago
Read 2 more answers
Rob and Lori purchased a home for $350,000 with an additional $5,000 in related purchase costs and then added a garage at a cost
Aliun [14]

Answer:

Profit = $42,000

Explanation:

Given:

House price = $350,000

Additional price = $5,000

Garage value = $25,000

Selling price = $450,000

Selling cost = $28,000

Total cost of the Assets

Purchase Home                       $350,000

Add: Additional Purchase       $5,000

<u>Add: Purchase of Garage       $25,000</u>

Total cost of the Assets          $380,000

Profit = Sale Price - (Cost Price + Selling Cost)

Profit = $450,000 - ( $380,000 + $28,000)

Profit = $450,000 - $408,000

Profit = $42,000

6 0
3 years ago
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