It is a contractual agreement between a bank, known as the issuing bank, on behalf of the buyer (drawer) Options: A . &nbspTime Draft B . &nbspInternational letter of credit C . &nbspCommercial letter of credit D . &nbspDomestic letter of credit

It is a contractual agreement between a bank, known as the issuing bank, on beh

Question

It is a contractual agreement between a bank, known as the issuing bank, on behalf of the buyer (drawer)

Options:

A . Time Draft

B . International letter of credit

C . Commercial letter of credit

D . Domestic letter of credit

Answer: Option C

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Question 1. These are legal contracts that involve the actual sale of securities by a borrower to a lender with a commitment on the....price plus a stated interest charge at a later date

Question 2. It is an order for the bank to pay a specified amount of money to the bearer of the time draft on a given date....

Question 3. It is bank-issued time deposit that specifies an interest rate and maturity date and is negotiable....

Question 4. These are issued by the Bureau of the Treasury with 91-day, 182-day, and 364-day maturities....

Question 5. It is a receipt issued by a commercial bank for the deposit of money....

Question 6. These are assets that will be converted to cash within a period one year....

Question 7. They are paper or electronic evidences of debt dealt in the money markets....

Question 8. The money market provides liquidity for deficit units; the capital market finances economic growth....

Question 9. Capital assets usually are not highly marketable....

Question 10. Consumers most often have only indirect access to the money market through commercial banks....

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