Which One of the Following Is Not a Description of a Letter

question 8

Multiple Choice

Which one of the following is not a description of a letter of credit?

• A) Irrevocable versus revocable.
• B) Instant versus prolonged.
• C) Confirmed versus unconfirmed.
• D) Revolving versus non-revolving.

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Definitions:

Transaction Costs

Expenses incurred when buying or selling goods or services, including search, bargaining, and enforcement costs of a deal.

Air Quality

The condition of the air based on the amount of pollution present; influences environmental and human health.

Water Pollution

Contamination of water bodies such as lakes, rivers, oceans, and groundwater caused by substances harmful to living organisms.

Environmental Regulation

Laws, policies, and regulations that are designed to protect the environment and regulate the impact of human activities on it.