An Instrument Given by a Bank on Behalf of a Buyer

question 37

Multiple Choice

An instrument given by a bank on behalf of a buyer to pay back the bank of the seller a given sum in a given time is called a(n)

• A)promissory note.
• B)draft.
• C) international IOU.
• D) letter of credit.

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Definitions:

Expression

An expression is a combination of symbols, numbers, and operators (such as +, -, *, /) that represents a quantity.

Division

A mathematical operation where one number (the dividend) is divided by another (the divisor), showing how many times the divisor fits into the dividend.

Division

A mathematical operation that represents dividing one number by another.

Polynomial

A mathematical expression consisting of variables and coefficients, that involves only the operations of addition, subtraction, multiplication, and non-negative integer exponents.