A Majority of International Transactions Involves the Buying and Selling

question 52

Multiple Choice

A majority of international transactions involves the buying and selling of _____.

• A)bank deposits denominated in foreign currency
• B)currency notes
• C)traveler's checks
• D)stocks denominated in foreign currency
• E)bills of exchange

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Definitions:

Possession

The control or ownership of something, whether personal property or real estate.

Demand Instrument

A financial document requiring payment to the holder on demand.

Uniform Commercial Code

A standardized set of laws that regulate financial contracts and transactions in the United States to facilitate commerce.

Time Of Payment

The specific date or schedule agreed upon for payment to be made in a transaction.