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  • Petty Cash The Small Amount of Cash and Coins That An Organization Uses For Minor Purchases

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    Petty cash refers to a small amount of cash used for minor purchases. A bank guarantee is a letter where the bank commits to paying a certain sum if a third party defaults. Traveler's checks function like cash but are protected against loss or theft, making them useful for travel. An overdraft occurs when withdrawals exceed deposits in a bank account. A letter of credit guarantees the seller payment for goods from the buyer's bank. A contract is a binding agreement between two or more parties to perform specified acts in exchange for consideration. Liquidated damages are an amount required to satisfy losses from a breach of contract. An insurance policy describes terms, coverage, premiums and deductibles.

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    Petty cash The small amount of cash and coins that an organization uses for minor purchases

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    Petty cash refers to a small amount of cash used for minor purchases. A bank guarantee is a letter where the bank commits to paying a certain sum if a third party defaults. Traveler's checks function like cash but are protected against loss or theft, making them useful for travel. An overdraft occurs when withdrawals exceed deposits in a bank account. A letter of credit guarantees the seller payment for goods from the buyer's bank. A contract is a binding agreement between two or more parties to perform specified acts in exchange for consideration. Liquidated damages are an amount required to satisfy losses from a breach of contract. An insurance policy describes terms, coverage, premiums and deductibles.

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    5 views2 pages

    Petty Cash The Small Amount of Cash and Coins That An Organization Uses For Minor Purchases

    Uploaded by

    5555101
    Petty cash refers to a small amount of cash used for minor purchases. A bank guarantee is a letter where the bank commits to paying a certain sum if a third party defaults. Traveler's checks function like cash but are protected against loss or theft, making them useful for travel. An overdraft occurs when withdrawals exceed deposits in a bank account. A letter of credit guarantees the seller payment for goods from the buyer's bank. A contract is a binding agreement between two or more parties to perform specified acts in exchange for consideration. Liquidated damages are an amount required to satisfy losses from a breach of contract. An insurance policy describes terms, coverage, premiums and deductibles.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
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    Petty cash The small amount of cash and coins that an organization uses for

    minor purchases.

    ‫كمية من االموال تستخدمها( الشركة للمصروفات الصغيرة واليومية‬

    Bank Guarantee -- A letter in which the bank commits itself to pay a


    certain sum if a third party fails to perform or if any other form of default
    occurs.

    ‫رسالة يلزم البنك فيها نفسه بدفع مبلغ معين في حال قام الطرف الثالث‬

    )‫المضمون( باخالل شرط ما‬

    Traveler’s check
    Check issued by a financial institution which functions as cash but is
    protected against loss or theft. Traveler's checks are useful when traveling ‫ز‬

    ‫عبارة عن ششيكات تصدر عن مؤسسة مالية ولكنها محمية ضد السرقة والضياع‬

    Overdraft
    The amount by which withdrawals exceed deposits in the bank account.

    letter of credit
    A binding document that a buyer can request from his bank in order to
    guarantee that the payment for goods will be transferred to the seller.

    ‫وثيقة يطلبهاالمشتري( من بنكه ليضمن للبائع حقه في المال‬

    Contract

    A binding agreement between two or more parties for performing, some


    specified act(s) in exchange for lawful consideration.
    ‫اتفاق بين طرفين او اكثر لتنفيذ عمل ما بمقابل‬
    Liquidated damages
    The amount required to satisfy a loss resulting from breach of contract.
    ‫الكمية المطلوبة لتغطية خسارة ناتجة عن خرق في عقد‬

    Insurance policy
    Describing the term, coverage, premiums and deductibles

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