A document requesting payment 30 days after delivery is known as a ________.
A)time draft
B)sight draft
C)spot draft
D)futures draft

Question

Quizplus · Accepted Answer

A time draft is a type of draft in which payment is required to be made at a specific future date. In this case, the payment is requested 30 days after delivery, making it a time draft. A sight draft requires immediate payment upon presentation, a spot draft is not a commonly used term in financial transactions, and a futures draft is a type of financial instrument used in commodities trading.

A Document Requesting Payment 30 Days After Delivery Is Known