The Three Basic Documents Needed in a Foreign Trade Transaction

question 47

Multiple Choice

The three basic documents needed in a foreign trade transaction are

• A)letter of credit,time draft,and proof of inspection.
• B)letter of credit,time draft,and a bill of lading.
• C)letter of credit,bill of lading,and insurance.
• D)time draft,bill of lading,and a pro forma statement.

Understand and calculate probabilities associated with discrete random variables.

Recognize and define the concept of a probability distribution and its importance.

Differentiate between false positives and false negatives in screening tests.

Apply probability rules to find expected values in real-world scenarios.

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Definitions:

Charges

Fees or payments required for services, or the formal accusations of wrongdoing.

Account Type

A classification that determines the features and rules applied to a financial or service account, such as savings, checking, or investment accounts.

Collections

The process or practices involved in pursuing payments of debts owed by individuals or businesses.

Initial Call

The first contact or communication, often referring to the early stages of a process or relationship.