Answer:
a letter issued by a bank to another bank to serve as a guarantee for payments made to a specified person under specified conditions.
Explanation:
Through promoting intra-industry trade, a country can increase levels of competition and the range of products produced in an industry with only one or two local enterprises producing a good. International trade for goods produced by the same business is known as intra-industry trade.
According to the idea of economies of scale, production costs often decrease as output scale increases. When it makes it possible for one or two large producers to supply the entire country, it becomes particularly important to international trade. A way to maintain consumer choice and competition while combining economies of scale-driven lower average manufacturing costs is through international trade.
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Answer:
b. first-in, first-out.
Explanation:
Generally, there are three methods for estimating the inventory shown below:
1. First-in-first, the company is selling the old products in this way than the new ones, which means first selling the old products and then selling the new ones
2. Weighted average method: Weighted cost is measured by considering the total revenue and total purchase
3. Last-in-first-out: Contrary to the first-in-first-out process, the first sale of new goods, then selling of old goods.
4. Base stock: The process by which the orders of the consumer are fulfilled by holding the less inventory
In the FIFO method, the highest ended inventory results in the lower cost of goods sold at the highest net profits.
