A Chinese Exporter Could Collect Its Accounts Receivable from the Bank

question 30

Multiple Choice

A Chinese exporter could collect its accounts receivable from the Bank of China if the Bank of China had confirmed the letter of credit issued by Citibank, and Citibank, for whatever reason, failed to honor its ________________ letter of credit.

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

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Definitions:

Surfacing

The process of appearing or becoming visible, often used in the context of objects coming to the surface of water or information becoming known.

Public Roads

Roads maintained by the government and accessible to the public for transportation purposes, including highways, city streets, and bridges.

Pre-Consumer Waste

Materials discarded during the manufacturing process before the product reaches the consumer, such as scrap material or trimmings.

Calculated Amount

A value determined through mathematical operations or formulas based on specific variables or parameters.