In a Transaction Involving a Letter of Credit,in Addition to the Importer

question 42

Multiple Choice

In a transaction involving a letter of credit,in addition to the importer and the exporter,what other two parties are usually involved?

• A)The extending bank and the receiving bank
• B)The issuing bank and the confirming bank
• C)The paying banks and the paid bank
• D)The authorizing bank and the approving bank

---

Definitions:

Autonomous Groups

Teams that operate independently with the ability to make decisions without external control.

Enabling Groups

Groups or teams within an organization designed to provide support, resources, or empowerment to individuals or projects, facilitating success.

Friendship Groups

Informal social networks of individuals who share personal relationships and interests within or outside a workplace.

Support Groups

Gatherings of individuals who share common experiences or challenges and provide mutual aid and understanding.