A time draft that is drawn on and accepted by the buyer is called a ______.
A) banker's acceptance
B) banker's bourse
C) bill of lading
D) certificate of deposit
E) trade acceptance

Question

Quizplus · Accepted Answer

A time draft that is drawn on and accepted by the buyer is called a trade acceptance. A banker's acceptance is a time draft that is accepted by a bank, while a bill of lading is a document that serves as proof of shipment of goods. A certificate of deposit is a financial instrument issued by banks as a time deposit with a specified interest rate. A banker's bourse is not a commonly used term in international trade.

A Time Draft That Is Drawn on and Accepted by the Buyer