Which Are NOT Types of Letter of Credit

question 64

Multiple Choice

Which are NOT types of letter of credit?

• A) insurable vs. noninsurable
• B) confirmed vs. unconfirmed
• C) revocable vs. irrevocable
• D) None are letters of credit.

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Definitions:

Investing Activities

Financial actions involving the purchase and sale of long-term assets and investments, part of a company's cash flow statement.

Sale of Land

A transaction involving the transfer of ownership of land from one party to another.

Receipts

Written acknowledgments of having received something, typically used for transactions and proof of payment.

Accrual Basis

An accounting method that records revenues and expenses when they are earned or incurred, regardless of when the cash is actually received or paid.