A draft is sometimes referred to as a:
A) bill of exchange
B) letter of credit
C) bill of lading
D) counter purchase
E) payment order

Question

Quizplus · Accepted Answer

A draft is a financial instrument that allows one party to request payment from another party at a specified time and is commonly referred to as a bill of exchange. It is a written order by which one party (the drawer) instructs another party (the drawee) to pay a certain sum of money to a third party (the payee).

A Draft Is Sometimes Referred to as A