Banks face losses from three sources : their own position ; dealing positions taken by employees, and defaults by counter parties to forward exchange contracts and covering transactions.

A．Right

B．Wrong

C．Doesn't say

The purchaser of a draft/documents presented under a straight documentary credit only has the right ______.

A．to protest the issuing bank

B．to present the drafts/documents on behalf of the beneficiary

C．to purchase the beneficiary's drafts/documents

D．to present the draft/documents by himself

Liabilities are usually classified as either current or noncurrent liabilities. Current liabilities are those obligations whose (61) is reasonably expected to require the use of existing resources properly classified as current (62) , or the creation of other current liabilities. This definition of current liabilities emphasizes a short-term creditor's claim to working capital rather than to the due date for (63) purposes. Accounts payable, dividends payable, salaries payable, and taxes payable are examples of current liabilities. Liabilities which are not current liabilities are (64) as noncurrent or long-term liabilities. Bonds payable and mortgages payable are examples of (65) liabilities.

(46)

A．calculation

B．liquidation

C．counting

D．account