A Draft Is A

question 15

Multiple Choice

A draft is a:

• A) two-party instrument.
• B) three-party instrument.
• C) single-party instrument.
• D) non-negotiable instrument.

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Definitions:

Accounts Receivable

Outstanding payments from customers to a firm for delivered goods or services awaiting payment.

Service Revenue

Represents the income earned by a company from its business activities, such as the sale of services, before any expenses are deducted.

Fair Market Value

The price at which an asset would trade in a competitive auction setting.

Sam, Capital

An account representing the owner's (Sam's) equity or ownership interest in a business.