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Author Question: What is a clearinghouse account? What are the benefits of using such accounts? What will be an ... (Read 27 times)

leilurhhh

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on: Jul 7, 2018
What is a clearinghouse account? What are the benefits of using such accounts?
 
  What will be an ideal response?

Question 2

What are public relations?
 
  What will be an ideal response?


dawsa925

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Reply #1 on: Jul 7, 2018
Answer to Question 1

To facilitate countertrade, firms may agree to establish clearinghouse accounts, in which the exporting firm incurs a counterpurchase obligation of an equivalent value, which is recorded in its clearinghouse account. When the exporting firm eventually buys goods from its partner, its clearinghouse obligation is reduced. Thus, a firm does not need to balance any single countertrade transaction, although it must honor its cumulative set of obligations by the time its clearinghouse account expires.

Answer to Question 2

Public relations consists of efforts aimed at enhancing a firm's reputation and image with the general public, as opposed to touting the specific advantages of the individual product or service.


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