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:

Test-Retest Reliability

The consistency of a measure evaluated over time, ensuring that the same results are achieved under the same conditions on subsequent administrations.

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The study of the development, structure, and dynamics of personality.

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Refers to the way something becomes apparent or is shown in actions or symptoms.

B. F. Skinner

An American psychologist known for his work in behaviorism and the development of the theory of operant conditioning.