All of the Following Are Possible Payment Terms for Goods

question 50

Multiple Choice

All of the following are possible payment terms for goods exported to another nation except:

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

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Definitions:

Third-party

An individual or group besides the two involved in a transaction or legal matter.

Possession

The actual holding or control of property, whether owned or not.

Engine

A machine designed to convert energy into useful mechanical motion to power vehicles, generators, and other devices.

Transmission

The act or process of transferring something from one place, person, etc., to another, commonly used in contexts like the transmission of electrical power or infectious diseases.