Sight drafts can be used as
A)certificates of deposit.
B)promissory notes.
C)collection devices.
D)share certificates.
E)finance notes.

Question

Quizplus · Accepted Answer

Sight drafts are primarily used as collection devices, which allow the beneficiary of the draft to receive payment from the bank upon presentation of the draft. They are not certificates of deposit, promissory notes, share certificates, or finance notes.

Sight Drafts Can Be Used as