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jeka94
2 years ago
11

Our company sold a batch of goods by way of letter of credit. Due to problems during the loading, most of the goods were loaded

on October 12, and the rest of them could not be shipped until October 16. However, the latest date of shipment stated in the credit was October 15. How could we solve this problem?​
Business
1 answer:
Lana71 [14]2 years ago
8 0

Answer:

The Uniform Customs and Practice for Documentary Credits (UCP) is published by the International Chamber of Commerce and was revised in 1993 and put into use January 1, 1994. The purpose of the UCP is to clarify gray areas that may appear in a letter of credit and to help banks interpret conditions in the letter of credit in a consistent manner.

However, as anyone who has ever worked with a letter of credit knows, there is plenty of disagreement between all parties concerned. Banks, account parties, and beneficiaries can all disagree about what complies and what does not comply when the shipping documents are checked against the terms of the letter of credit.

Sometimes the UCP just doesn’t clarify a situation the way you think it should. After all there is a huge difference between the words “will” and “may.” For instance: “Banks will accept…” versus “Banks may accept….” One is definite and the other appears to be open to interpretation. It’s not surprising confusion results.

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Answer:

The Sammy and Monica’s medical expense deduction for regular income tax purposes is $17,750.

Explanation:

For the purpose of regular income tax, the deduction pertaining to medical expenses are available up to the extent it exceeds 10% of AGI.

Deduction available = excess expenses incurred - 7.5% of AGI

                                 = ($16,000  + 4,000  + 2,500 +5,000) - 7.5%*130000

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Therefore, The Sammy and Monica’s medical expense deduction for regular income tax purposes is $17,750.

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3 years ago
What are consumer motives?
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Explanation:

The motivation for consumption comes from individual needs and desires, which may occur consciously and unconsciously. To meet their needs and wants, people identify and buy products and services that are compatible with their satisfaction.

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The following production data were taken from the records of the Finishing Department for July: Inventory in process, July 1, 40
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Answer:

37,000 units

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= Transferred to finished goods during the month of July + Ending work in process during the month of July - Inventory in process as on July 1

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