Letters of Credit Are Trusted Forms of Payment in International

question 29

True/False

Letters of credit are trusted forms of payment in international trade because the bank promises to make the payment on behalf of the importer.

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Definitions:

Aided Recall Test

A performance metric in which respondents are asked to recall advertisements based on clues they receive to help stimulate their memory.

Unaided Recall Test

A measure of memory in which participants are asked to remember information without being given cues or hints.

Benchmark Test

An evaluation or test that uses a set of standards or an established reference point to measure the performance of a product or service.

Pretest

An evaluation of advertisements by a sample of targeted consumers before an ad campaign begins.