A document ordering the importer to pay the exporter a specified sum of money at a specified time is called a(n) ________.
A) bill of lading
B) letter of credit
C) bill of exchange
D) airway bill

Question

Quizplus · Accepted Answer

A bill of exchange is a type of financial instrument used in international trade that orders the importer to pay the exporter a specified sum of money at a specified time. It is similar to a check or promissory note. A bill of lading is a document that serves as a contract between a shipper and a carrier, while a letter of credit is a guarantee of payment from a bank. An airway bill is a document used in air cargo transportation that serves as a receipt and a contract between the shipper and the carrier.

A Document Ordering the Importer to Pay the Exporter a Specified