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2 . Complete the following passage by selecting the appropriate terms from the following list ( some terms may be used more than once )
Complete the following passage by selecting the appropriate terms from the following list some terms may be used more than once: Bankers Acceptance ; Commercial Draft; Open Account; Trade Acceptance; Promissory Note.
Most goods are sold on In this case the only evidence of the debt is a record in the sellers books and a signed receipt. When the order is very large, the customer may be asked to sign an which is just a simple IOU. An alternative is for the seller to arrange an ordering payment by the customer. In order to obtain the goods, the customer must acknowledge this order and sign the document. This signed acknowledgement is known as an Sometimes the seller may also ask the customers bank to sign the document. In this case it is known as an
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