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WAEC Commerce 2021 Question 15

Question 15

Foreign Trade Documents

A foreign order which instructs an agent to buy certain goods from a particular supplier is

  1. A.closed indent.
  2. B.open indent.
  3. C.letter of credit.
  4. D.letter of enquiry.
Show the answer and explanation

Answer: A (closed indent.)

Explanation

A closed (specific) indent names the supplier; an open indent leaves the choice of supplier to the agent.