A ______________ L/C Is One Under Which the Beneficiary Has

question 71

Multiple Choice

A ______________ L/C is one under which the beneficiary has the right to instruct the paying bank to make the credit available to one or more secondary beneficiaries.

• A) confirmed
• B) transferable
• C) unconfirmed
• D) irrevocable

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Definitions:

Stakeholders

Individuals or groups that have an interest, stake, or investment in a business or project and can be affected by its outcomes.

Organizational Culture

The shared values, beliefs, behaviors, and norms that shape the social and psychological environment of a business or organization.

Demographic Group

A segment of the population defined or categorized by specific characteristics such as age, gender, income, etc., often used in statistical analysis.

Management Function

The roles and activities undertaken by managers to effectively and efficiently coordinate the resources of an organization towards achieving its objectives.