Question No. 31
• Which does not represent a method of
payment
Answer
A. Cheque
B. Saving certificate
Answers
Answer:
b saving certificate is correct
Answer:
A saving certificate does not represent a method of
payment
Explanation:
Method of payment:
Exporters must present their clients with enticing sales conditions backed by suitable payment options if they hope to compete in the current global marketplace and outsell overseas rivals. Since getting paid in whole and on time is the ultimate goal of any export sale, a suitable payment method must be carefully chosen to reduce the payment risk and satisfy the buyer's requirements. There are five main payment mechanisms for cross-border transactions, as depicted in figure 1. You should consider which technique in the figure is most advantageous to you and your client during or before contract talks.
The payment method is how the buyer or seller makes a payment. Cash, checks, credit or debit cards, money orders, pay orders, bank transfers, and online payment systems like PayPal are among the standard payment methods used in modern businesses.
Payment methods are:
- cash
- Debit Cards
- Credit Cards
- Bank transfers
- Direct debits
- ACH and E-Checks
- Mobile payments
- Crypto
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