
BTEC Unit 5C - International payment methods
Quiz
•
Business
•
12th Grade
•
Practice Problem
•
Medium
Steve Porter
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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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