An Irrevocable Letter of Credit Transfers the Payment Obligation for an Export

question 6

Multiple Choice

An irrevocable letter of credit transfers the payment obligation for an export deal from the buyer to the buyer's:

• A)in-house export organization.
• B)bank.
• C)freight forwarder.
• D)credit union.
• E)checking account.

---

Definitions:

Fax Machine Sales

The buying and selling of fax machines, a technology used to transmit scanned documents via telephone lines, now mostly obsolete due to digital communication advancements.

Downward Trend

A situation in which market prices, interest rates, or other indices move lower over a period of time.

Product Life Cycle

The progression of a product through various stages including introduction, growth, maturity, and decline, impacting marketing strategies and product management.

Market Share

The percentage of an industry's sales that a particular company or product commands within a specific time period.