Acct. Chp 24

Goods or services shipped out of a seller’s home country to a foreign country.

• imports

• exports

• trade sales

• trade acceptance

A draft payable on sight when the holder presents it for payment.

• sight draft

• time draft

• draft

• draft payment

A document that details all the terms agreed to by the seller and buyer for a sales transaction

• commercial invoice

• contract of sale

• bill of lading

• letter of credit

A written, signed, and dated order from one party ordering another party, usually a bank, to pay money to a third party.

• draft

• contract of sale

• time draft

• sight draft

A receipt signed by the authorized agent of a transportation company for merchandise received that also serves as a contract for the delivery of the merchandise

• commercial inovice

• bill of lading

• contract sale

• sales invoice

T/F

Credit card sales on the internet are handled differently than any other credit card sales.

• true

• false

T/F

A company's website must be easy to navigate and safe to use

• true

• false

T/F

Domestic sales are much simpler than international sales.

• true

• false

T/F

The growth of information technology and trading relationships have made doing business internationally more complex.

• true

• false

T/F

International sales often specify a letter credit as the method of payment.

• true

• false