Bank Charges on Letters of Credit Will Depend on the

question 1

Multiple Choice

Bank charges on letters of credit will depend on the

• A) Exporter's creditworthiness.
• B) size of the transaction.
• C) Exporter's means of finance.
• D) time taken to approve the sale.

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Definitions:

Industry

A sector of the economy that produces goods or services, often categorized by the type of activity involved, such as manufacturing, agriculture, or services.

Public Good

A good or service that is characterized by nonrivalry and nonexcludability. These characteristics typically imply that no private firm can break even when attempting to provide such products. As a result, they are often provided by governments, who pay for them using general tax revenues.

Government

The government refers to the system or group of people governing an organized community, often a state, setting and enforcing laws and policies.

Benefits

The advantages or profits gained from something, including financial, health, or well-being improvements.