M/s XYZ company has got an order to supply Machinery to M/s ABC Co of Nigeria. Who has to get a Letter of Credit issued from a Bank?
A. M/s ABC since they are the importers
B. M/s XYZ since they are the exporters
C. Both since they are the parties to the agreement
D. RBI since they regulate the Foreign Trade in India
Answer: Option A
Related Questions on Banking Awareness miscellaneous
A. Bombay Stock Exchange
B. Delhi Stock Exchange
C. Calcutta Stock Exchange
D. Bangalore Stock Exchange
Which of the following is not a function of General Insurance?
A. Cattle Insurance
B. Crop Insurance
C. Fire Insurance
D. Medical Insurance
Liability- side of the balance-sheet comprises:
A. Capital and reserve
B. Long-term liabilities
C. Current liabilities
D. All of the above
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