Post-UTME General Knowledge (Current Affairs) 2017 Objective — Question 11

Question 11 of 50 from the Post-UTME Screening (Post-UTME) General Knowledge (Current Affairs) 2017 Objective paper, with the correct answer and a full explanation.

Guarantee to an exporter that the importer of his goods will pay him immediately for the goods ordered by him, is known as

A. Letter of Credit (L/C)Correct
B. laissez-faire
C. inflation
D. None of the above

Explanation

A Letter of Credit is a bank's guarantee that a buyer's payment will be received by the seller.

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