What is the name of the written document that instructs the payment of a certain amount of money to a designated individual?

Multiple choice question for Basic of Economics. Select an option, then review the explanation below.

Explanation

A Bill of Exchange is a written directive that orders the payment of a specific sum to a particular person. It differs from a Bill of Lading, which is related to the shipment of goods, and a Bearer Cheque, which is payable to the holder.

Practice related questions from the same subject.

1.Which of the following best describes deflation?
2.Under what condition can two nations benefit from engaging in international trade?
3.Which of the following represents a legitimate form of currency?
4.Which political ideology is best summarized by the phrase, "From each according to his ability, to each according to his needs"?
5.Which type of currency experiences a decline in its exchange rate due to a continuous balance of payments deficit?

What is the name of the written document that instructs the payment of a certain amount of money to a designated individual?

Explanation

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