Commercial Letter of Credit Are

question 39

Multiple Choice

Commercial letter of credit are

• A) customarily required by importers of their suppliers.
• B) negotiable in the money markets of major cities.
• C) customarily provided by banks to their customers to accommodate their import activities.
• D) ordinarily provided by issuing bank at no charge to customers.

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Definitions:

Dominating Influence

A significant impact or control over individuals or situations, often leading to a position of authority.

Authority

The legitimate power given to an individual or a body to make decisions and enforce obedience.

Power

The capacity or ability to direct or influence the behavior of others or the course of events.

Operative

Relating to or involved in the functioning of operations or activities within an organization or system.