A ________________ is an instrument that is due and payable immediately upon receipt.

A) Commercial draft.
B) Time draft.
C) Banker's acceptance.
D) Sight draft.
E) Trade acceptance.

Sight Draft

A financial document that demands immediate payment upon presentation to the drawee, often used in international trade.

Time Draft

A written order to pay a specified amount of money at a certain time in the future, often used in international trade.

Banker's Acceptance

A short-term financial instrument issued by a company that is guaranteed by a commercial bank. It is commonly used in international trade.