Which of the Following Is Not True Regarding Letters of Credit

question 5

Multiple Choice

Which of the following is not true regarding letters of credit?

• A) They are issued by banks on behalf of the importer promising to pay the exporter.
• B) A revocable letter of credit can be cancelled or revoked at any time without prior notification to the beneficiary.
• C) They guarantee that the goods shipped are the goods purchased.
• D) All of the above are true.

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Definitions:

Consultation

The process of seeking advice or expertise from someone with specialized knowledge, typically within a professional context.

Dignity

The state or quality of being worthy of honor or respect, often considered a fundamental aspect of human rights.

NASW Code

A set of ethical guidelines published by the National Association of Social Workers to guide conduct and decision-making.