A revocable letter of credit is an agreement to honor a draft or other demand for payment when specified conditions are met and can only be changed by the seller.
Answer the following statement true (T) or false (F)
False
Rationale: An irrevocable letter of credit states changes require both buyer and seller agreement.
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Monitoring activities should be kept separate from decision-making processes to increase a company's competitiveness
Indicate whether the statement is true or false
When assessing buyer power using Porter's five forces, which of the following is not consistent with low buyer power?
a. Brand loyalty b. Control of distribution channel c. Large number of suppliers d. Low price
A retailer can generate channel control through each of the following strategies except _____
a. bargaining power due to many purchases from a manufacturer b. private brands c. the threat of switching vendors d. franchising
Answer the following statement(s) true (T) or false (F)
1. We are sometimes able to reduce the duration of a project by crashing the project. 2. The cost associated with reducing an activity duration is often referred to as a crash cost. 3. It is often beneficial to crash noncritical activities. 4. Software that is free or open source can be acceptable for small businesses facing relatively simple projects. 5. HyperOffice is an example of a cloud-based project management software solution.