Drafts which are backed up by banks and are payable to seller of products or services are classified as

A banker acceptance
B secured acceptance
C unsecured acceptance
D economic acceptance

Correct Answer: banker acceptance

Drafts which are backed up by banks and are payable to seller of products or services are classified as banker acceptance. A banker's acceptance requires the bank to pay the holder a set amount of money on a set date.
Bissoy MCQ
#Management #International Finance And Treasury

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