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BTEC Unit 5C - International payment methods

Authored by Steve Porter

Business

12th Grade

Used 2+ times

BTEC Unit 5C - International payment methods
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30 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

It relies on high levels of trust

Cash in advance

Open account

Commercial payment systems

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

An open account is when goods are shipped and delivered by a supplier without receiving any payment

International credit card

Open account

International bank transfer

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

International bank accounts can avoid changes in exchange rates affecting the business, which makes planning easier

International bank transfers

Consignment

Open account

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Other systems that can be used overseas, eg Apple Pay

Cash in advance

Commercial payment systems

Letters of credit

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Payment is usually made within 30, 60 or 90 days

Open account

Consignment

International credit card

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The bank of the importer agrees that they will pay the supplier as soon as the order has been completed and the terms and conditions of the letter of credit are met

Letters of credit

Commercial payment systems

Cash in advance

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Cash may be preferred by the supplier

International bank transfer

Cash in advance

Consignment

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