Sallyanne Is Selling Merchandise to a Retailer Using the Terms

question 51

Multiple Choice

Sallyanne is selling merchandise to a retailer using the terms of a trade draft. As a new employee of Sallyanne's, you find out that a trade draft is

• A) a means of pledging accounts receivable.
• B) an agreement to meet certain terms, which is attached to the shipment and which must be signed before the goods are delivered to the buyer.
• C) a legal agreement promising to pay for the goods, which is signed by the buyer before the seller will ship the goods.
• D) a type of secured loan with trade products serving as collateral.
• E) the seller ships products on faith that payment will be forthcoming.

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Definitions:

Discriminated Against

Treated unjustly or unequally based on personal characteristics such as race, gender, or age.

Sexual Harassment

Unwelcome or inappropriate sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature in a workplace or other professional or social situations.

Preconventional Moral Development

A stage in Lawrence Kohlberg's theory of moral development characterized by an individual's motivation to follow rules and obey authority to avoid punishment or obtain rewards.

Expectations of Others

The anticipated beliefs or standards others hold regarding an individual's or entity's actions and performance.