A Shipment That Is Held by the Importer Until the Merchandise

question 106

Multiple Choice

A shipment that is held by the importer until the merchandise has been sold is called:

• A)advance payment.
• B)confirmed irrevocable letter of credit.
• C)unconfirmed irrevocable letter of credit.
• D)open account.
• E)consignment.

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Definitions:

P(A and B)

The probability of both event A and event B occurring in a joint probability distribution.

Independent Events

Events whose occurrence or outcome does not influence the occurrence or outcome of another event.

Conditional Probability

The probability of an event occurring, given that another event has already occurred.

P(A|B)

The probability of event A occurring given that event B has already occurred.