Which of the Following Statements Is TRUE with Respect to Bills

question 65

Multiple Choice

Which of the following statements is TRUE with respect to bills of exchange?

• A) Unlike a promissory note, a bill of exchange cannot be used to create a credit arrangement between the parties.
• B) Once a bill of exchange is accepted, the drawer becomes known as the acceptor.
• C) A bill of exchange is usually used only for relatively small domestic transactions.
• D) Whereas a cheque must be drawn on a bank, a bill of exchange may be drawn on a bank.
• E) A bill of exchange must be drawn upon a bank, a trust account, or some other financial institution.

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Definitions:

Close

Finalizing a transaction or agreement in sales, ensuring that the deal is completed and the product or service is sold.

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An objection that delays the presentation or the sale.

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The measure of the likelihood that an event will occur, often expressed as a number between 0 and 1, where 1 indicates certainty.

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A professional who specializes in selling technology products and services, often requiring in-depth knowledge of technical specifications and industry trends.