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Select the correct option and rewrite the sentence:i. A bill of exchange is called a ________ by one who is entitled to receive the amount due on it. (a) Bills Payable (b) Draft (c) Bills Receivable (d) Promissory Noteii. The person who draws a bill of exchange is called __________ (a) Payee (b) Drawee (c) Endorsee (d) Draweriii. A bill of exchange is required to be ________ by drawee. (a) drafted (b) discounted (c) accepted (d) endorsediv. A person who accepts the bill is called ________(a) Drawer (b) Acceptor (c) Payee (d) Creditorv. The person to whom the amount of the bill is made payable is called _____________OR________is a person to whom the amount on a bill is payable.(a) Endorsee (b) Drawer (c) Drawee (d) Payee |
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Answer» i. (c) Bills Receivable ii. (d) Drawer iii. (c) accepted iv. (b) Acceptor v. (d) Payee |
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