A Banker's Acceptance Is a Time Draft Drawn on and Accepted

question 26

True/False

A banker's acceptance is a time draft drawn on and accepted by a commercial bank.

---

Definitions:

Flexible Budget

A budget that adjusts or changes in response to variations in actual activity levels, allowing for better cost control and planning.

Activity Levels

A measure of the amount of work or action in a particular context, such as in a business or exercise program.

Slack Season

A period during which demand for a business's products or services decreases, often leading to lower sales.

Procedures

Established methods or sequences of actions for conducting operations or processes within an organization or activity.