There are three types of bills of exchange, these are
A) sight certificates, demand notes and certificates of deposit.
B) demand drafts, sight drafts and time drafts.
C) certificates, demand drafts, and sight certificates.
D) time notes, certificates of deposit, and certificates.
E) shares, demand notes and time payments.

Question

Quizplus · Accepted Answer

The three types of bills of exchange are demand drafts, sight drafts, and time drafts. Option A is partially correct as demand notes are a type of promissory note and not a bill of exchange. Option C and D are incorrect as they do not mention the correct types of bills of exchange. Option E is incorrect as none of the options listed are types of bills of exchange.

There Are Three Types of Bills of Exchange, These Are