Which of the Following Statements Regarding "Bankers' Acceptances" Is True

question 16

Multiple Choice

Which of the following statements regarding "bankers' acceptances" is true?
I.Bankers' acceptances are used in overseas trading.
II.Bankers' acceptances are bought and sold on a discount basis.
III.Bankers' acceptances are guaranteed by the bank.

• A)I only
• B)II only
• C)III only
• D)I, II, and III

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Definitions:

Minor

An individual under the age of majority, which is legally recognized as an adult, typically 18 or 21 years old in most jurisdictions.

Legally Act

To perform actions or conduct oneself in a manner that is in accordance with the law.

Agent

A person authorized to act on behalf of another person (the principal), engaging in legal acts or transactions.

Negligence

A failure to behave with the level of care that a reasonably prudent person would have exercised under the same circumstances, resulting in harm or injury.