Retirement of a bill of exchange means —

Related MCQs

• M draw a 3 months bill of exchange of ` 20,000 on T on 1st April 07. On due date T paid ` 4,000 and requested M to draw another bill of exchange for 2 months. On the due date of second bill of exchange T is declared insolvement and a dividend of 25 paisa in a rupee is expedited to be realized from his assets. Find the amount receivable from T in respect of the outstanding bill of exchange
• Which of the following transactions of a business is/ are recorded in Journal Proper? (i) Purchase of goods on credit (ii) Sale of Office Furniture for cash (iii) Discounting of Bill of Exchange with a bank (iv) Endorsement of a Bill of Exchange in settlement of debt of the business
• A Bill of Exchange is drawn on 1st April, 2012 payable after 3 months. The due date of the bill is
• X draws a Bill of Exchange on Y for ` 10,000 on 1-1-2013 for 3 months. The due date of the bill will be —
• X draws a 3 months bill of exchange for ` 25,000 upon Y on 23-10-12. Find the due date of the bill.
• 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
• Kuntal draws a bill on shyam for ` 7,000.Kuntal endorsed it to Ram. Ram endorsed it to Rahim. The payee of the bill will be:
• Shiva draws a bill on Sanat on 25th October, 2018 for 90 days, the maturity date of the bill will be
• 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
• How many parties are generally found in a Bill of Exchange