A Time Draft Is

question 6

Multiple Choice

A time draft is:

• A) a guarantee from the importer's bank that is will act on behalf of the importer and pay the exporter for the merchandise if all relevant documents are presented.
• B) is a written order instructing the importer or his agent to pay the amount specified on its face on a certain date.
• C) is a document issued by the common carrier specifying that it has received the goods for shipment.
• D) is a negotiable money market instrument for which a secondary market exists.

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Definitions:

Sample Size

The count of observations or duplicates that are part of a statistical sample.

Quality Control

The process of ensuring that products and services meet consistent standards and requirements through various checks and measures.

Defective Parts

Items or components that fail to meet quality specifications or standards within a manufacturing process.

Assembly Line

A manufacturing process in which parts are added to a product in a sequential manner to create a finished product efficiently.