A letter of credit means:
A. Letter sent by importer to exporter sanctioning credit deal
B. Letter sent by exporter to importer sanctioning credit deal
C. letter containing terms of credit purchase or sale
D. letter by which bank agrees to pay on due date
Answer: Option D
Related Questions on Business and Commerce
A. Commerce
B. Industry and commerce
C. Trade and commerce
D. Selling and buying of goods
Which of the following is not an economic activity?
A. A doctor practicing
B. A lawyer practicing law
C. A professional cricketer playing cricket
D. A student playing cricket
Which of the following is an extractive industry?
A. Cattle breeding
B. Forest cultivation
C. Hunting
D. Flour mills
Which of the following is not a manufacturing industry?
A. Iron and steel works
B. Flour Mills
C. Fruit canning
D. Mining
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