Dona A sight draft is a type of draft that is payable as soon as it is presented to the drawee. This means that the drawee must pay the amount of the draft on the spot, or within a very short period of time. Sight drafts are often used in international trade, where one party may … Read more
What is an audit? An audit is an examination of an organization’s financial statements and accompanying disclosures. The purpose of an audit is to provide assurance that the financial statements are free of material misstatement and are a fair representation of the organization’s financial position. There are three main types of audits: financial, operational, and … Read more
Quadruple witching is the term used to describe the expiration of four different types of options contracts on the same day. This event occurs on the third Friday of March, June, September, and December. Because options contracts usually expire on the third Friday of the month anyway, quadruple witching days are ones where there is … Read more
