The Primary Methods of Payment for Foreign Trades,ranked in the Order

question 74

Multiple Choice

The primary methods of payment for foreign trades,ranked in the order of most secure to least secure for the exporter is

• A)open account,consignment,letter of credit/time draft,and cash in advance.
• B)consignment,letter of credit/time draft,cash in advance,and open account.
• C)cash in advance,letter of credit/time draft,consignment,and open account.
• D)cash in advance,letter of credit/time draft,open account,and consignment.

Analyze data in two-way tables.

Recognize assumptions and conditions for the application of Chi-Square tests.

Interpret the results of statistical analyses to make informed decisions.

Understand the concept and application of the chi-square test for independence.

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Definitions:

CISG

The United Nations Convention on Contracts for the International Sale of Goods, a treaty that sets forth the rules governing international sales contracts.

Warranty of Particular Purpose

A guarantee that a product will meet the specific requirements or needs of the buyer, going beyond general expectations.

Lack of Conformity

A situation where goods or services provided fail to meet the contractual specifications or standards agreed upon.

Section 402A

Part of the Restatement (Second) of Torts, imposing strict liability on manufacturers for defective products that cause harm.