A time draft drawn on and accepted by a commercial bank that orders to pay a specified amount of money to the bearer on a given date is called a _______
A) letter of credit
B) negotiable certificate of deposit
C) banker's certificate of support
D) reverse repurchase agreement
E) banker's acceptance

Question

Quizplus · Accepted Answer

A banker's acceptance is a time draft drawn on and accepted by a bank, promising to pay the bearer a specified amount on a future date.

A Time Draft Drawn on and Accepted by a Commercial