Question
Standard Company issues a draft for $500 on May 1, payable to the order of Ace Credit Corporation. The draft is drawn on First State
| Standard Company issues a draft for $500 on May 1, payable to the order of Ace Credit Corporation. The draft is drawn on First State Bank. If the bank does not accept the draft, who is liable for payment? | |
| Standard Company | |
| Ace Credit Corporation | |
| First State Bank | |
| all of the above | |
| none of the above |
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Financial Accounting An International Introduction
Authors: David Alexander, Christopher Nobe
6th Edition
1292102993, 978-1292102993
