Which of the Following Is (Are) True Concerning the UCP

question 31

Multiple Choice

Which of the following is (are) true concerning the UCP?

• A) The UCP is a standardized set of rules in virtually all nations.
• B) Because the UCP was drafted by the ICC and is recognized in most states, it automatically governs international letters of credit.
• C) The UCP will govern a letter of credit only if its provisions are incorporated into the letter of credit by reference.
• D) A and C only.
• E) A and B only.

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Definitions:

Exchange Process

The act of giving one thing and receiving another, especially in terms of goods, services, or monetary value, between parties.

Social Space

A zone that is 4 to 12 feet from a person and is the area normally used for sales presentations.

Selling Situation

A context or environment in which a sales transaction takes place, affecting the strategies and approaches used by salespeople.

Without Uttering

The act of conveying a message or expressing oneself without the use of spoken words.