24. Which of the following statements about bills is INCORRECT?
A. There is an active secondary market in bank-accepted bills.
B. Once a bill has been discounted into the marketplace, the cost of funds will vary for the issuer. C. The drawer has a liabil
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Answer: A. There is an active secondary market in bank-accepted bills. The secondary market for bank-accepted bills is not very active, as the bills are typically sold as investments and not traded actively. The other statements are all correct.
