A banker's acceptance is a draft drawn on and accepted by a(an)__________.

Name: A banker's acceptance is a draft drawn on and accepted by a(an)__________.
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Quizplus · Accepted Answer

A banker's acceptance is a draft that is accepted by a bank, which means the bank guarantees payment to the holder of the draft on the maturity date. The bank acts as a third-party intermediary to ensure that the transaction between the importer and exporter goes smoothly. Therefore, choice A is the correct answer.

A Banker's Acceptance Is a Draft Drawn on and Accepted