Which of the Following Is NOT True Regarding a Letter

question 34

Multiple Choice

Which of the following is NOT true regarding a letter of credit?

• A) The importer and exporter agree on a transaction.
• B) The importer applies to its local bank for the issuance of a letter of credit.
• C) The exporter applies to its local bank for the issuance of a letter of credit.
• D) The importer's bank cuts a sales contract based on its assessment of the creditworthiness of the importer.

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Definitions:

Gabriel's Rebellion

An unsuccessful slave revolt led by Gabriel Prosser in Virginia in 1800, aiming to gain freedom for African-American slaves.

Antislavery Statements

Public declarations or expressions opposing slavery, advocating for its abolition and the emancipation of enslaved people.

Adaptation

Adaptation refers to the process by which organisms adjust to changes in their environment, or the modifications made by humans to ideas, objects, or practices in response to new conditions.

Kentucky

A state located in the central-eastern United States, known for its horse racing, bourbon distilleries, coal mining, and bluegrass music.