A Sight Draft Is Payable as Soon as It Is

question 49

True/False

A sight draft is payable as soon as it is presented to the drawee for payment.

---

Definitions:

Effortful Processing

The active and conscious effort to encode or store information in memory.

Iconic Memory

A type of visual sensory memory that holds an exact copy of what is seen for a very brief period of time, usually under a second.

Serial Position Effect

A phenomenon in memory research indicating that people tend to remember the first and last items in a series better than the middle items.

State-Dependent Memory

The phenomenon where an individual's ability to retrieve information is enhanced when they are in the same state of consciousness as when the memory was encoded.