Which One of the Following Credit Instruments Is Commonly Used

question 52

Multiple Choice

Which one of the following credit instruments is commonly used in international commerce?

• A)open account
• B)sight draft
• C)time draft
• D)banker's acceptance
• E)promissory note

Differentiate between arguments and explanations.

Analyze the role of reasoning in understanding non-observable phenomena.

Recognize the necessity of premises for constructing a logical argument.

Identify the elements that typically introduce premises and conclusions in arguments.

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Definitions:

Demographic Transition

A model describing the transformation of countries from having high birth and death rates to low birth and death rates as a country develops from a pre-industrial to an industrialized economic system.

Mortality

The state of being mortal or the incidence of death within a population.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, often measured as the percentage increase in real gross domestic product (GDP).

Postindustrial Period

a stage in societal development that occurs after the industrial period, characterized by an economy focused more on services than on manufacturing.