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.
Correct Answer:

Verified
Correct Answer:
Verified
Q17: Businesses use the commercial money market for
Q18: Commonly used in international trade, a draft
Q19: Luc signs a promissory note for $2,500
Q20: For a drawee to be obligated to
Q21: When a bank is both the drawer
Q23: An instrument is negotiable even if the
Q24: A certificate of deposit (CD)is issued when
Q25: Oda signs a promissory note payable to
Q26: The payee of a certificate of deposit
Q27: To determine the value of an instrument,