The important attributes of a bankers’ acceptance are that the bank A. makes an unconditional promise to pay the holder of the draft a stated amount on a specified day B. effectively substitutes its own credit for that of a borrower C. creates a negotiable instrument that may be freely traded D. all of the above
Added by Denise M.
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A bankers' acceptance is a short-term debt instrument issued by a company that is guaranteed by a commercial bank. It is commonly used in international trade. Show more…
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