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navik [9.2K]
2 years ago
14

Pro-Racquets has a bill of lading for an order of 10,000 tennis rackets it will be exporting to a foreign distributor. The compa

ny takes this bill of lading to the local bank and uses it to obtain funds to hold the company over until final payment is received from the foreign distributor. In this situation, the bill of lading is being used as _______.
Business
1 answer:
mixas84 [53]2 years ago
7 0

Answer:

A security

Explanation:

A security is defined as an item that holds financial value and represents ownership of a property by the holder. It is used as a means of gaining some financial assistance.

The security acts something a creditor can use to get back their money in case the debtor fails to pay up.

In this case Pro-Racket takes the bill of lading to the local bank and uses it to obtain funds to hold the company over until final payment is received from the foreign distributor.

The Bill of lading here has been used as a security to obtain a loan from the bank

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The price per share of Corner Grocery's offer = \frac{45,000}{2,500} = $18 per share.

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blsea [12.9K]

A required reserve ratio of 7 percent gives rise to a simple deposit multiplier of 14.29.

<h3>What is reserve ratio?</h3>

The reserve ratio is the percentage of reservable liabilities which commercial banks must keep rather than lend or invest. This is a requirement set by the country's central bank, which is the Federal Reserve in the United States. It is also referred to as the cash reserve ratio.

Some key points related to reserve ratio are-

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