Accounting · Bills of Exchange
Which of the following statements is TRUE regarding bills of exchange?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The maker of a promissory note is a creditor.
- 2The acceptor of a bill of exchange is always a creditor.
- 3A bill of exchange generally has only two parties - the drawer and the maker.
- 4The drawer and the payee may be the same person in a bill of exchange.✓
Correct answer
The drawer and the payee may be the same person in a bill of exchange.
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