alleryA bill of exchange used to finance credit sales, drawn by the seller and accepted by the buyer, becomes a:
ATrade bill
BShare bill
CCash bill
DBank bill
Answer & Solution
Correct answer: A. Trade bill
1. The drawer is the seller and the drawee is the buyer.
2. On acceptance it becomes marketable.
3. It is then called a trade bill.
_Source: syllabus Business Studies Part II, Chapter 10, Financial Markets._
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