Which of the Following Is True of Open Accounts

question 13

Multiple Choice

Which of the following is true of open accounts?

• A) Sales on open accounts are very common method of payment in foreign trade.
• B) Sales on open accounts are generally recommended when special merchandise is ordered by the buyer.
• C) Sales on open accounts are not generally recommended when there is political unrest in the importer's country.
• D) When the country of the importer imposes difficult exchange restrictions, the best payment arrangement recommended is open accounts.
• E) Sales on open accounts are less risky for the seller when it involves new buyers.

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Definitions:

Economic Development

The process by which a nation improves the economic, political, and social well-being of its people.

Equal Opportunity

Equal opportunity is a principle ensuring that all individuals have the same chances to compete for and obtain jobs, education, and other resources, without discrimination based on irrelevant characteristics.

Gender Role Stereotypes

Preconceived ideas and expectations about behaviors, attributes, and roles that society considers appropriate for men and women.

Promotion Decisions

The process of deciding which employees to advance to higher positions within an organization, based on criteria such as performance and potential.