Once Accepted,a Time Draft Becomes A(n)

question 63

Multiple Choice

Once accepted,a time draft becomes a(n) :

• A)asset for the drawee.
• B)in-transit bill.
• C)promise to pay by the accepting party.
• D)bill of lading.

---

Definitions:

Maximum Benefit

The highest level of satisfaction or utility that a consumer can achieve with their available resources.

International Trade

The swapping of merchandise and services between nations.

Country Better Off

A situation where a country's overall economic welfare or prosperity improves, often measured through metrics like GDP, employment rates, and living standards.

Individuals Worse Off

This term often references a situation where economic policies or market changes make certain individuals financially less well-off than before.