The bill of exchange that is payable at the time it is presented or at a stated time after presentment is known as a(n) ________.

Question

Quizplus · Accepted Answer

A bill of exchange that is payable at the time it is presented is known as a sight bill. This means the bill must be paid on demand (sight) or within a short period, such as within 30 days or less. On the other hand, a bill of exchange that is payable at a stated time after presentment, such as 60 days after sight, is known as a time bill. Therefore, the correct answer is C, sight bill.

The Bill of Exchange That Is Payable at the Time