Asked by Robert Pesta on Apr 24, 2024
Which of the following is true of a foreign draft?
A) It is drawn in one state and payable in another state.
B) It is drawn in one nation and payable in another nation.
C) It is drawn on one bank and payable to a governmental body.
D) It is drawn in one city and payable in another city in the United States.
Foreign Draft
A financial instrument used in international trade, drawn by an exporter on a foreign buyer, which orders the payment of a specified amount of money.
- Understand the principles of drafts, encompassing both sight and bank drafts, and their application in commercial activities.
Learning Objectives
- Understand the principles of drafts, encompassing both sight and bank drafts, and their application in commercial activities.