An accepted time draft is quite similar to:
A) selling on open account.
B) a conditional sale.
C) a check dated in the future.
D)an overdue account.

Question

Quizplus · Accepted Answer

An accepted time draft is a type of draft, which is essentially a written order from one party to another to pay a certain amount. The key difference with an accepted time draft is that it is dated in the future, indicating the date on which payment is due. This is similar to a check that is post-dated, as both represent an obligation to pay in the future. Therefore, the best choice is C, a check dated in the future.

An Accepted Time Draft Is Quite Similar To