This business/management problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.
ScanSolve AI Answer
a) Complete the table below: | | Commercial transaction | Characteristics | Document | | :--- | :--- | :--- | :--- | | i | Used during payment | When the buyer makes payment for purchases | Receipt | | ii | Correcting errors on financing transaction | Correct errors of overcharge | Credit Note | | iii | Used after the good are supplied using fastest means of transport in home trade | To inform the buyer of the means of transport used by the seller and when to expect the goods | Consignment Note | | iv | Used in home trade to accompany the goods | Prepared in two copies and conveyed by the driver | Delivery Note | b) Study the trading statistics of country X and answer the questions below. Given data: Invisible Export prices: 20BFCFA Invisible Import Prices: 7BFCFA Visible Export Price: 550BFCFA Visible Import Price: 400BFCFA Capital Inflow: 210BFCFA We will calculate the Balance of Visible Trade, Balance of Invisible Trade, Balance of Trade (Current Account Balance), and Balance of Payments. Step 1: Calculate the Balance of Visible Trade. Balance of Visible Trade = Visible Export Price - Visible Import Price Balance of Visible Trade = 550BFCFA - 400BFCFA Balance of Visible Trade = 150BFCFA Step 2: Calculate the Balance of Invisible Trade. Balance of Invisible Trade = Invisible Export prices - Invisible Import Prices Balance of Invisible Trade = 20BFCFA - 7BFCFA Balance of Invisible Trade = 13BFCFA Step 3: Calculate the Balance of Trade (Current Account Balance). Balance of Trade = (Visible Export Price + Invisible Export prices) - (Visible Import Price + Invisible Import Prices) Balance of Trade = (550BFCFA + 20BFCFA) - (400BFCFA + 7BFCFA) Balance of Trade = 570BFCFA - 407BFCFA Balance of Trade = 163BFCFA Step 4: Calculate the Balance of Payments. Assuming the Balance of Payments includes the Balance of Trade (Current Account) and Capital Inflow. Balance of Payments = Balance of Trade + Capital Inflow Balance of Payments = 163BFCFA + 210BFCFA Balance of Payments = 373BFCFA Send me the next one 📸