Which of the Following Completely Eliminates the Risk of Nonpayment

question 79

Multiple Choice

Which of the following completely eliminates the risk of nonpayment by an importer or a bank in an international transaction?

• A)documentary credit (letter of credit)
• B)documentary collection
• C)cash in advance
• D)sales on open account
• E)draft

Explore the concept of ratification and its effects on contract enforceability.

Examine the legal obligations of parties in a contract that becomes illegal due to new legislation.

Identify and differentiate between types of organizational controls.

Understand the concept and importance of unity of command in organizational structure.

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Definitions:

Service Situations

Scenarios in which customer needs are addressed and met through the provision of services.

Social Media Platforms

Online tools or websites that allow users to create and share content or participate in social networking.

Facebook

A social media platform allowing users to connect, share content, communicate, and engage with friends, family, and communities online.

LinkedIn

A professional networking platform that allows individuals and companies to connect, share industry-related news, post jobs, and highlight professional experiences and achievements.