Under the UCP,the Description of the Goods in the Commercial

question 40

Multiple Choice

Under the UCP,the description of the goods in the commercial invoice must correspond with the description in the credit.In all other documents,the goods may be described _____

• A) in perfect conformance with the credit.
• B) in general terms not inconsistent with the description of the goods in the credit.
• C) in specific terms as requested by the buyer.
• D) in general terms consistent with the contract for the sale of goods.

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Definitions:

Monthly Basis

Refers to events, measurements, or calculations that occur or are determined every month.

Ledger Account

A record that summarizes all the transactions related to a particular item or individual in the accounting system, facilitating the preparation of financial statements.

Service Revenue

Revenue generated from the provision of services to customers.

Accounts Receivable

Accounts Receivable refers to the money owed to a company by its customers for products or services delivered or used but not yet paid for.