Letter of credit (LC) is—

A    A reminder given by banks to repay back its loans

B    An instrument through which a Bank guarantees the credit of its customer

C    An instrument issued by a purchaser to guarantee payment

D    An instrument issued by a seller to send goods in time

Solution

Correct Answer: Option C

Practice More Questions on Our App!

Download our app for free and access thousands of MCQ questions with detailed solutions

Download Android App Login to Website

Related Topics