Which of the Following Is Not True Regarding Letters of Credit

question 5

Multiple Choice

Which of the following is not true regarding letters of credit?

• A) They are issued by banks on behalf of the importer promising to pay the exporter.
• B) A revocable letter of credit can be cancelled or revoked at any time without prior notification to the beneficiary.
• C) They guarantee that the goods shipped are the goods purchased.
• D) All of the above are true.

---

Definitions:

High-Fructose Corn Syrup

A sweetener produced from corn starch that has been processed to convert its glucose into fructose, widely used in the food industry.

Corn Increases

A rise in the production or supply of corn, often due to factors like improved agricultural techniques or increased demand.

Supply Curve

A diagram that displays the correlation between an item's price and the volume of its supply.

Equilibrium Price

The price at which the quantity of goods supplied equals the quantity of goods demanded in the market.