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

Question

Quizplus · Accepted Answer

A bill of exchange is a written order from the exporter to the importer, requiring the importer to pay a specified sum of money to the exporter at a specified time. It is also known as a draft. A bill of lading is a document that serves as evidence of receipt of goods by a carrier. A letter of credit is a financial instrument used to facilitate trade transactions, which guarantees payment from the buyer to the seller. A management contract is an agreement between two parties that outlines the terms of a business relationship or project.

A Document Ordering the Importer to Pay the Exporter a Specified