Which of the Following Statements About Bills Is Incorrect

question 37

Multiple Choice

Which of the following statements about bills is incorrect?

• A) There is an active secondary market in bank-accepted bills.
• B) Once a bill has been discounted into the marketplace, the cost of funds will vary for the issuer.
• C) The drawer has a liability with a bank-accepted bill to pay face value to the acceptor bank.
• D) At maturity for a bank-accepted bill, the acceptor will pay face value to the holder.

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