The Bills of Exchange Act Governs Which of the Following

question 35

Multiple Choice

The Bills of Exchange Act governs which of the following kinds of instruments?

• A)bills of exchange only
• B)bills of exchange and negotiable instruments
• C)drafts only
• D)bills of exchange,promissory notes,and cheques
• E)bills of exchange,negotiable instruments,and cheques

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Definitions:

Budget Surplus

The situation where a government's income exceeds its expenditures within a given time period, enabling savings or debt reduction.

Private Saving

The portion of disposable income that households save rather than spend on consumption.

National Saving

The sum of private and public savings in a country, representing total income not spent on consumption or government expenditures.

Silla Rulers

Leaders of the Silla Kingdom, one of the Three Kingdoms of Korea, known for unifying the Korean Peninsula in the 7th century.