A Typical Foreign Trade Transaction Requires Three Basic Documents

question 17

Multiple Choice

A typical foreign trade transaction requires three basic documents:

• A)letter of credit, time draft, and bill of lading.
• B)letter of credit, banker's acceptance, and bill of lading.
• C)letter of credit, time draft, and a banker's acceptance.
• D)none of the above

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Definitions:

Independent Events

Events whose outcomes do not affect each other, implying that the occurrence of one does not change the probability of the other.

Presale Testing

A form of market research conducted before launching a new product to evaluate consumer interest and potential issues.

Expected Fail

A statistical prediction or anticipation of the occurrence of failures within a system or process.

Computer Chip

A small piece of semiconducting material, typically silicon, on which an integrated circuit is embedded, central to the functioning of computers and electronic devices.