A/An ________ Letter of Credit Is an Obligation Only of the Issuing

question 64

Multiple Choice

A/An ________ letter of credit is an obligation only of the issuing bank whereas other banks honor a/an ________ letter of credit.

• A) irrevocable; unconfirmed
• B) revocable; confirmed
• C) confirmed; irrevocable
• D) unconfirmed; confirmed

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Definitions:

Tractors

Heavy vehicles designed for agricultural use, primarily to mechanize farming tasks including plowing, planting, and harvesting.

Opportunity Cost

Forfeiting possible rewards from various alternatives when a singular option is chosen.

Crude Oil

A natural fossil fuel consisting of hydrocarbon deposits and other organic materials that can be refined to produce various types of energy products.

Tractors

Heavy-duty vehicles designed primarily for agricultural use, including plowing, tilling, and planting fields.