The Difference Between a Cheque and Draft Is That

question 5

Multiple Choice

The difference between a cheque and draft is that

• A) a cheque is a bill of exchange drawn against a bank that is payable on demand, a draft is not payable on demand.
• B) the drawee on a cheque is a bank of financial institution, the drawee of a draft may be a financial institution or bank.
• C) a cheque is not a negotiable instrument, a draft is a negotiable instrument.
• D) a cheque is a bill of exchange drawn against a person that is payable on demand, a draft is drawn against a financial institution.
• E) a cheque is a bill of exchange a draft is not a bill of exchange.

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Definitions:

Y-intercept

The point where a line or curve crosses the y-axis of a graph, representing the value when all independent variables are zero.

Least Squares Line

A line that minimizes the sum of the squares of the vertical deviations from each data point to the line, often used in linear regression.

Interval Variables

Variables where the intervals between the values are interpretable, allowing for meaningful comparison and arithmetic operations.

Interpretation

The process of explaining or understanding the meaning of data, actions, or events.