Which of the Following Is True of a Letter of Credit

question 17

Multiple Choice

Which of the following is true of a letter of credit?

• A)It states that the bank will pay a specified sum of money to a beneficiary on presentation of particular,specified documents.
• B)It is a document written by an exporter instructing an importer to pay a specified amount of money at a specified time.
• C)It serves as a receipt,a contract,and a document of title.
• D)It indicates that the carrier has received the merchandise described on the face of the document.
• E)It allows buyers to obtain possession of merchandise without signing a formal document acknowledging his or her obligation to pay.

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Definitions:

Back-end Database

A back-end database is a database that is designed to run in the background, typically on a server, to store, manage, and facilitate access to data for front-end applications.

One Copy

Designates a single instance or printing of a document or file.

Access Options

Settings and configurations within Microsoft Access that allow users to customize the application's behavior, appearance, and database handling features.

Startup Options

Settings that determine what happens when a program is launched, including which windows or files open by default.