Which of the Following Incorrectly States the Role of Banks

question 9

Multiple Choice

Which of the following incorrectly states the role of banks in import\export transactions involving a letter of credit (L\C) ?

• A)The exporter's bank is the advising and\or confirming bank.
• B)The importer's bank is the advising and\or confirming bank.
• C)The importer's bank is the advising,confirming,and issuing bank.
• D)The exporter's bank is the advising,confirming,and issuing bank.
• E)The importer's bank is neither advising nor confirming bank.

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Definitions:

Type I Error

The incorrect rejection of a true null hypothesis, also known as a "false positive" finding.

Null Hypothesis

A hypothesis used in statistics that proposes no significant difference or effect, serving as a default position until evidence suggests otherwise.

Test Statistic

A value calculated from sample data during a hypothesis test, used to make a decision about the null hypothesis.

P-Value

A statistical measure that helps to determine the strength of the results to support or reject the null hypothesis.