Which of the Following Is True of a Foreign Draft

question 40

Multiple Choice

Which of the following is true of a foreign draft?

• A)It is drawn in one state and payable in another state.
• B)It is drawn in one nation and payable in another nation.
• C)It is drawn on one bank and payable to a governmental body.
• D)It is drawn in one city and payable in another city in the United States.

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Definitions:

Flexible Budget

A budget that modifies based on fluctuations in activity levels or volume.

Output

The quantity of goods or services produced in a given time period by a company, individual, or machine.

Budgeting

The process of creating a plan to spend your money, outlining anticipated income and expenses for a future period.

January

The first month of the year in the Gregorian calendar, often associated with new beginnings and resolutions.