What term identifies a bank's promise to pay a foreign business firm (e.g.,a German firm)a certain amount if specified conditions are met?
A) Bank loan
B) Letter of credit
C) Promissory note
D) Deposit
E) Electronic funds transfer

Name: What term identifies a bank's promise to pay a foreign business firm (e.g.,a German firm)a certain amount if specified conditions are met? A) Bank loan B) Letter of credit C) Promissory note D) Deposit E) Electronic funds transfer
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Question

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Letter of credit

What Term Identifies a Bank's Promise to Pay a Foreign