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:

Articles of Confederation

The original constitution of the 13 American states, adopted in 1781, which was eventually replaced by the U.S. Constitution in 1789.

Draft Constitution

A preliminary version of a constitution that outlines the fundamental principles and laws of a political entity that is subject to review, modification, and approval.

Shays' Rebellion

An armed uprising in Western Massachusetts and Worcester in response to a debt crisis among the citizenry and in opposition to the state government's increased efforts to collect taxes both on individuals and their trades.

Debt Relief

A measure or process through which a portion or all of someone's debt is forgiven or restructured to reduce the financial burden on the debtor.