A Draft Used in International Transactions ____

question 22

Multiple Choice

A draft used in international transactions ____.

• A) is a document requesting payment
• B) explains the conditions of a contract
• C) is the same as a letter of credit
• D) gives bank guarantee to an exporter

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Definitions:

Cost-Benefit Impact

The analysis or effect of comparing the costs and benefits of a decision, project, or investment.

Behavioural Decision Model

A theoretical framework focusing on the cognitive, social, and emotional influences on individual and collective decision-making processes.

Bounded Rationality

A concept suggesting that in decision-making, individuals are limited by the information they have, their cognitive limitations, and the finite amount of time they have to make a decision.

Limited Information

A scenario where decision-makers have only a partial view or incomplete data about a situation or problem.