BUSSINES ENGLISH

MID SEMESTER TEST

Name : Khesia Elshadai Limbong

Class : A
Invoice
An invoice is a time-stamped commercial document that
itemizes and records a transaction between a buyer and a
seller. If goods or services were purchased on credit, the
invoice usually specifies the terms of the deal and provides
information on the available methods of payment.
Types of invoices may include a paper receipt, a bill of sale,
debit note, sales invoice, or online electronic record.

The Basics of an Invoice

An invoice must state it is an invoice on the face of the
bill. It typically has a unique identifier called the invoice
number that is useful for internal and external reference. An
invoice typically contains contact information for the seller or
service provider in case there is an error relating to the billing.
 Payment terms may be outlined on the invoice, as well as
the information relating to any discounts, early payment
details or finance charges assessed for late payments. It also
presents the unit cost of an item, total units purchased,
freight, handling, shipping, and associated tax charges, and it
outlines the total amount owed.
The invoice date represents the time-stamped time and
date on which the goods have been billed and the transaction
officially recorded. Therefore, the invoice date has essential
information regarding payment, as it dictates the credit
duration and due date of the bill. This is especially crucial for
entities offering credit, such as net 30. The actual due date of
the invoice is usually 30 days after the invoice date. Likewise,
companies offer customers the option to return items
typically have a deadline based on a certain number of days
since proof of purchase, as indicated on the invoice.
Inquiry
An account inquiry is a review of any type of financial account,
whether it be a depository account or credit account. The inquiry can refer
to past records, payments, and other specific transactions, or to any other
entries relating to the account.
The Purpose of an Account Inquiry
An account inquiry is typically initiated when an individual seeks to
take on new debt, particularly in conjunction with making a substantial
purchase such as the acquisition of real estate. Before the applicant is
approved for the new debt, the lender wants to see their track record
when it comes to paying their debts in an orderly fashion. This step is key
in assessing the overall creditworthiness of a potential borrower, as well
as structuring the rates they may be offered for the loan.
 An account holder may initiate an account inquiry on his
or her own behalf, particularly if questionable activity is
suspected—such as debits that the account holder does not
recall authorizing or charges that look unfamiliar. By
requesting that the bank or creditor launch an investigation
into such transactions, the inquiry could be a start in
identifying security breaches or instances of fraud.
Packing List
A packing list is a document used in international trade,
that provides the exporter, the international freight
forwarder, and the ultimate consignee with information
about the shipment. This list also includes details about how
the shipment is packed and the marks and numbers that are
noted on the outside of the boxes.

Other names used to describe a packing list are bill of

parcel, unpacking note, packing slip, delivery docket, delivery
list, manifest, shipping list, and customer receipt.
What should an export packing list include?
An export packing list must always include information about
the number of units, boxes, and any other available
packaging information.
 The information must match the Commercial
Invoice and should reflect the same parties to the
transaction. It should also clarify if solid wood was
used to pack the shipment. Most countries enforce
certain Fumigation and Heat Treatment regulations
when it comes to transporting wooden materials.
There are a few reasons why a packing list is so
important when exporting goods from a given
country
Here are some of the reasons:
1. It provides a count for the product that is being released.
2. It also serves as proof of the inland bill of lading.
3. It indicates the details required for a Certificate of Origin.
4. It provides much of the detail needed by the Electronic Expor
Information section in the Automated Export System.
6. It serves as proof of a Material Safety Data Sheet, in the case that
goods are deemed hazardous or dangerous.
7. It is used to create a booking with the international carrier, as well as
the issuance of the international Bill of Lading.
8. It helps the partnered customs broker when entering the listed goods
in their country’s import database, as it contains important information.
9. It serves as a guide for the receiver/buyer when counting the product
that they received.
10. It serves as a supporting document for reimbursement under a letter
of credit.
Fax (short for facsimile), sometimes called telecopying or
telefax (the latter short for telefacsimile), is the telephonic
transmission of scanned printed material (both text and images),
normally to a telephone number connected to a printer or other
output device. The original document is scanned with a fax
machine (or a telecopier), which processes the contents (text or
images) as a single fixed graphic image, converting it into a
bitmap, and then transmitting it through the telephone system
in the form of audio-frequency tones. The receiving fax machine
interprets the tones and reconstructs the image, printing a paper
copy.

Early systems used direct conversions of image darkness to

audio tone in a continuous or analog manner. Since the 1980s,
most machines modulate the transmitted audio frequencies
using a digital representation of the page which is compressed
to quickly transmit areas which are all-white or all-black.
Electronic mail (email or e-mail)
is a method of exchanging messages ("mail") between
people using electronic devices. Email entered limited use in
the 1960s, but users could only send to users of the same
computer, and some early email systems required the author
and the recipient to both be online simultaneously, similar to
instant messaging.
Ray Tomlinson is credited as the inventor of email; in
1971, he developed the first system able to send mail
between users on different hosts across the ARPANET, using
the @ sign to link the user name with a destination server. By
the mid-1970s, this was the form recognized as email.
The history of modern Internet email services reaches
back to the early ARPANET, with standards for encoding
email messages published as early as 1973 (RFC 561). An
email message sent in the early 1970s is similar to a basic
email sent today.
Request
The definition of demand is a number of goods and
services that are desired to be purchased to meet needs at
various price levels and certain times in the market.
Requests can be divided into:

1. Absolute demand: demand for goods and services in

general, with or without the ability to buy.
2. Effective demand: demand for goods and services
coupled with the ability to buy.
Factors Affecting Demand Consumer was behavior /
taste. Availability and price changes of substitute and
complementary similar items.
Factors affecting absolute demand was Income /
consumer income. Future price forecast. Amount / intensity
of consumer needs
Supply,
in economics, is the number of goods or services that are
available and can be offered by producers to consumers at
any price level during a certain period of time. Supply is
influenced by several factors. These include the price of
goods, the level of technology, the number of producers in
the market, the price of raw materials, as well as
expectations, speculations, or estimates.
Among the factors above, the price of goods is
considered the most important factor and is often used as a
reference for conducting supply analysis. The price is directly
proportional to the number of offers. If the price is high, then
producers will compete to sell their goods so that the supply
will increase. Meanwhile, if prices fall, producers will delay
sales or store their products in warehouses so that the
number of offers will decrease.