Accounting · Bills of Exchange and Promissory Notes
Which type of instrument of credit involves an absolute and unconditional promise in writing, signed by the maker, to pay a certain sum of money only to, or to the order of, a specified person, or to the bearer of the instrument?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Bill of Exchange
- 2Cheque
- 3Promissory Note✓
- 4Letter of Credit
Correct answer
Promissory Note
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