Once accepted by the drawee, a time draft becomes a(n)
A. asset for the drawee.
B. in-transit bill.
C. promise to pay by the accepting party.
D. bill of lading.
E. letter of credit.
Answer: C. promise to pay by the accepting party
A. asset for the drawee.
B. in-transit bill.
C. promise to pay by the accepting party.
D. bill of lading.
E. letter of credit.
Answer: C. promise to pay by the accepting party