Which of the following statements about the issuing of a commercial bill is incorrect?
A) Commercial bills are sold at discount to face value.
B) A bank may accept a commercial bill.
C) The drawer is the party that issues the commercial bill.
D) The discounter is the party that borrows the funds.

Question

Quizplus · Accepted Answer

The discounter is the party that buys the commercial bill at a discount to face value, not the party that borrows funds. The drawer is the party that issues the commercial bill, and a bank may accept a commercial bill.

Which of the Following Statements About the Issuing of a Commercial