When Does Acceptance of a Draft Occur

question 52

Multiple Choice

When does acceptance of a draft occur?

• A) Acceptance occurs if an accommodation has occurred.
• B) Acceptance occurs if an unqualified indorser is involved.
• C) Acceptance of a draft occurs when the drawee writes the word acceptance across the face of the draft.
• D) All of these are correct.

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Definitions:

Eminence

A position of great distinction or superiority in a particular field or industry.

Exceptional Ability

An extraordinary capacity or skill in a specific area beyond what is considered normal.

Adaptive Skills

Abilities that enable individuals to cope with changes, obstacles, and life's demands effectively.

Intellectually Disabled

A term describing individuals who have significant limitations both in intellectual functioning and in adaptive behavior, encompassing many everyday social and practical skills.