Multiple choice

The bills of exchange are sent to the bank for collection by the drawer in order to

  1. get it discounted

  2. get third party endorsement

  3. ensure safety of bill

  4. None of these

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The bills of exchange are send to bank for collection in order to ensure that bill is safe with the bank and the drawer would get its payment on the due date.