Concept:A bank draft is a payment instrument where the bank itself is both the drawer and the drawee.
Explanation:The drawer is the party who issues the payment order.
The drawee is the party who is ordered to pay.
In a bank draft, the bank issues the draft on itself.
So the bank acts as both the drawer and the drawee.
A standing order is an instruction by a customer to the bank.
A bill of exchange involves separate drawer and drawee parties.
An open cheque is drawn by an account holder on the bank.
Answer:C. bank draft