WAEC Commerce 1996 Question 95

Question 95

Foreign Trade Documents

A foreign order which instructs an agent to buy certain goods at a particular place is called

  1. A.letter of credit
  2. B.letter of attorney
  3. C.open indent
  4. D.closed indent
  5. E.bill of lading
Show the answer and explanation

Answer: D (closed indent)

Explanation

A closed (specific) indent names the supplier or place the goods must come from.