Question: A sight draft is payable as soon as it is presented to the drawee for payment. True False

Asight draft is payable as soon as it is presented to the drawee for payment.
True
False

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

If the foreign exchange transaction requires the payment in the exporter's currency, the exporter has the foreign exchange risk.* True False Switch trading is a countertrade practice in which one...

Q:

QUESTION 33 True or False: The following item, by itself, would violate a negotiability test: The instrument is payable "at the end of the 2020 Major League Baseball World Series." True False...

Q:

QUESTION 1 A holder in due course(HDC) takes a negotiable instrument free of personal defenses. True False QUESTION 2 A person who receives an instrument as a gift or for no consideration is still a...

Q:

1_A cashier's check is an instrument in which a bank draws a check on itself. True False 2_Certified checks are instruments that have been accepted for payment by the institutions on which they are...

Q:

1. Open account payment terms i_s the best option for an international trade transaction: a} In everyr situation and every market b} Only when the importer is a new company c} 1When a longterm...

Q:

explain it 1. Open account payment terms is the best option for an international trade transaction: a) In every situation and every market h) Only when the importer is a new company c) When a...

Q:

1. In the government-wide statements, Internal Service Funds are a(n) ______ activity, whereas Enterprise Funds are typically a(n) ______ activity. A. business-type; governmental B. governmental;...

Q:

1. In the government-wide statements, Internal Service Funds are a(n) ______ activity, whereas Enterprise Funds are typically a(n) ______ activity. A. business-type; governmental B. governmental;...

Q:

1 Which of the following ratios would not be used to measure the extent of a firm's debt financing? a. Times interest earned. b. Debt to equity. c. Long-term debt to total capitalization. d. Debt...

Q:

QUESTION 1 Jim wrote a post-dated check on December 22 and gave it to one of his creditors that day.The check was dated December 30 .The creditor deposited Jim's check right away, and it was...

Q:

For the given loading, determine the zero-force members in the truss shown.

Q:

A square loop, side a, resistance R, lies a distance s from an infinite straight wire that carries current I (Fig. 7.28). Now someone cuts the wire, so that I drops to zero. In what direction does...

Q:

Chemical Reaction Engineering. Please show the complete solution for each number for all the required. Box final answers. Use GRESA format. b. If the reactor becomes twice its original volume,...

Q:

Describe how total variable costs and unit variable costs behave with changes in the level of activity. If fixed costs increase, what would be the impact on the contribution margin and income from...