A/An ________ Letter of Credit Is Intended to Serve as a Means

question 33

Multiple Choice

A/An ________ letter of credit is intended to serve as a means of arranging payment, but not as a guarantee of payment.

• A) irrevocable
• B) revocable
• C) confirmed
• D) unconfirmed

---

Definitions:

CEOs

Chief Executive Officers, the highest-ranking individuals in a company or organization, responsible for making major corporate decisions.

U.S. Attorneys General

The chief legal officers of the federal government of the United States, heading the U.S. Department of Justice and responsible for overseeing federal prosecutions.

Fortune 500

An annual list compiled and published by Fortune magazine that ranks 500 of the largest United States corporations by total revenue.

De Facto Racial Segregation

Racial segregation occurring in practice through individuals' behaviors and decisions rather than by legal requirement.