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:

Directive Leader

A leadership style characterized by providing clear instructions, guidance, and expectations to team members.

Supportive Leader

A leadership approach focused on building trust, showing empathy, and providing encouragement and support to subordinates.

Path-Goal Theory

A leadership theory that suggests the leader's role is to guide followers in achieving their goals and to provide the necessary direction and support to ensure that their goals are compatible with the overall objectives of the group or organization.

Achievement-Oriented Leadership

A leadership style focused on setting challenging goals, emphasizing excellence, and working towards achieving high performance levels.