Which of the Following Statements About Bank Bills Is Incorrect

question 55

Multiple Choice

Which of the following statements about bank bills is incorrect?

• A) The drawer is the party that issues the bill.
• B) The acceptor is the party that has primary liability to repay the face value of the bill.
• C) The payee is the party that receives the borrowed funds when the bill is initially issued.
• D) The discounter is the party that repays the acceptor at maturity.

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Definitions:

Multiple Personalities

An outdated term for dissociative identity disorder, a condition characterized by the presence of two or more distinct personality states.

Dissociation of Self

A psychological experience in which there is a feeling of detachment from one's thoughts, feelings, or sense of identity.

Ordinary Consciousness

The typical state of awareness where individuals perceive, think, and feel in a normal waking state.

Conversion Disorder

A mental disorder characterized by the presence of neurological symptoms, such as blindness or paralysis, that cannot be explained by medical evaluation.