JAMB Commerce 2012 Objective — Question 14

Question 14 of 50 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2012 Objective paper, with the correct answer and a full explanation.

A bill of exchange paid before its due date at an amount less than its face value is said to have been

A. Accepted
B. Rejected
C. DiscountedCorrect
D. Dishonoured

Explanation

If a bill of exchange is discounted, in most cases, it is discounted because the person paying it will take the discount for helping to pay earlier before the due date.

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