Accommodation bills are generally for —

Related MCQs

• The drawer of a trade bill passes relevant entries with regard to the transaction involved in it. But, in case of an accommodation bill, he passes an entry in addition to the usual entries. The additional entry so passed is with respect to
• The Accommodation bill is drawn
• Rebate on bills discounted is
• Rebate on bills discounted is ………..
• Bills receivable as endorsed is debited to
• Bills payable honored during the year will be debited to ______
• Bills payable dishonored during g the year will be credited to
• In the books of the drawer, the accounting treatment involved on receipt of a bill of exchange duly accepted by the drawee is i. Debit Bills Receivable Account ii. Debit Drawee‘s Account iii. Credit Drawee‘s Account iv. Credit Sales Account
• When Bills Receivable is returned dishonoured by the drawee, which of these A/c is debited by the drawee
• Bills receivable is a ___________