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Bogart Presents a Sight Draft to Commerce Bank for Payment

Question 22

Multiple Choice

Bogart presents a sight draft to Commerce Bank for payment. A bank employee writes accepted across the face of the instrument, and adds the date and the bank's signature. The draft is


A) acknowledged as received, but not payable without further verification.
B) accepted and will be payable by the close of the next business day.
C) payable ninety days after sight.
D) payable immediately or within a stated time after sight.

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