A Statement by a Bank Guaranteeing Acceptance and Payment of a Draft

question 56

Multiple Choice

A statement by a bank guaranteeing acceptance and payment of a draft up to a stated amount is called a(n)

• A) bill of exchange.
• B) commercial letter of credit.
• C) time draft.
• D) documentary draft.

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Definitions:

Technological Resources

Assets in the form of technology, such as software and hardware, that assist in the operations and management of an organization.

Moderate-complexity Tests

Laboratory tests that require a moderate level of expertise, equipment, and interpretative judgment.

Pathologist

A medical doctor who studies the changes a disease produces in the cells, fluids, and processes of the entire body.

Blood Cell Counts

A test that determines the number of various types of blood cells in a sample, used to diagnose and monitor diseases.