A ____ Is Issued by a Bank Upon Request of an Importer

question 61

Multiple Choice

A ____ is issued by a bank upon request of an importer stating that the bank will pay an amount of money to a stated beneficiary.

• A) Licence
• B) letter of credit
• C) bill of lading
• D) Draft
• E) voucher

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Definitions:

Economic Benefit

The gain received when money, goods, or services are obtained or when a financial burden is lifted.

Realized

In finance, realized usually pertains to the profit or loss that occurs when an investment is sold for a price different than its purchasing price.

Economic Benefit

The advantage or benefit a person or entity receives in a transaction, often examined in tax and legal contexts.

Bookkeeping Services

Professional services offering systematic recording, reporting, and analysis of financial transactions of a business.