Of the Following,which Is NOT True About International Banking and Payments

question 30

Multiple Choice

Of the following,which is NOT true about international banking and payments?

• A) Payment in advance is the safest method.
• B) Payment in advance does not expose the importer to some risk concerning delivery of the goods.
• C) A commercial letter of credit offers payment protection to both parties.
• D) A commercial letter of credit is usually irrevocable.
• E) An open account is a simple agreement wherein the exporter sends an invoice with the goods and the exporter pays upon the receipt.

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Definitions:

ADP

Adenosine Diphosphate (ADP) is an important organic compound in metabolism that serves as an energy transfer molecule. ADP is converted to ATP, which stores and transfers energy within cells.

Energy Currency

This refers to molecules like adenosine triphosphate (ATP) that store and transfer energy within cells, fueling various biological processes.

Reactant

Substance that participates in a reaction.

Product

An item or substance that is manufactured or refined for sale.