Which of the following statements concerning drafts is (are) correct?
A) Drafts require the firm to keep larger balances in its disbursement account.
B) When a draft is transmitted to the firm's bank for collection, the bank must present the draft to the firm for acceptance before payment is made.
C) Both a and b are correct.
D) Neither a nor b is correct.
Correct Answer:
Verified
Q13: are processed through the Automated Clearing House
Q14: The primary reason(s) why firms hold liquid
Q15: Which of the following types of marketable
Q16: are short-term debt instruments issued as part
Q17: The difference between the firm's checking account
Q18: The fastest method for moving funds between
Q20: Which of the following statements concerning auction
Q23: Osborne Shipbuilding Company, located in Baton Rouge,
Q25: The objective of cash collection and disbursement
Q29: To minimize the cost associated with misdirected
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents