A ______________ Involves an Agreement Today to Buy or Sell

question 29

Multiple Choice

A ______________ involves an agreement today to buy or sell a specified amount of a foreign currency,for delivery at a specified future date,at a rate agreed upon today.

• A)forward transaction
• B)spot transaction
• C)arbitrage transaction
• D)foreign discount with respect to the domestic currency

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Definitions:

Received and Accepted

A term indicating that goods or services have been both delivered and acknowledged as meeting the terms of a contract or agreement.

Price Term

The specific conditions related to the price agreed upon in a contract for the sale of goods or services.

International Sale

The process of buying and selling goods or services across national borders, subject to international trade laws and agreements.

UCC Article 2

Deals specifically with transactions involving the sale of goods under the Uniform Commercial Code.