Which of the Following Is True About Consignment Sales as a Method

question 22

Multiple Choice

Which of the following is true about consignment sales as a method of payment?

• A) It requires the buyer to pay the face amount either on sight or on a specified date in the future.
• B) It involves the use of a draft, drawn by the seller on the buyer.
• C) It is the ideal method of payment because a company has immediate use of the money.
• D) It involves wire transfers or the acceptance of credit cards.
• E) It puts the exporter under great risk and offers the least control over the supplies.

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Definitions:

Full Retirement Benefit

Full Retirement Benefit refers to the total amount of pension or social security payments a person is eligible to receive upon reaching the designated retirement age.

Inflation

The rate at which the general level of prices for goods and services is rising, thereby eroding purchasing power.

Monthly Social Security Benefits

The payments made to eligible recipients each month by the Social Security Administration, often based on retirement or disability status.

Retirement Account

A financial account designed for saving funds specifically for the period of life when an individual stops working.