"Where Everyone Has an MBA"
Tel: (612) 246-4616
Tel: (612) 246-4616
PARETO PRINCIPLE/LAW see 80 - 20 RULE.
STANDBY LETTER OF CREDIT is a guarantee of payment. If the beneficiary does not get paid from its customer it can then demand payment from the customers Bank by forwarding the copy of the invoice that was not paid along with predetermined supporting documentation.
OUT-OF-P0CKET are expenses requiring an outlay of cash in a given time period, e.g., payroll, advertising and other operating expenses, but not depreciation.
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