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प्रश्न
Answer in one sentence.
What do you mean by discounting a bill of exchange?
उत्तर
Encashment of a bill of exchange with the bank for certain cash which is less than the face value of the bill, before its due date by its drawer or holder is called Discounting of a Bill of Exchange.
APPEARS IN
संबंधित प्रश्न
Give one word/phrase/term which can substitute the following statement:-
Person who is in possession of Bill of Exchange.
Give one word/phrase/term which can substitute each of the following statement:-
Amount which is not recoverable from Drawee on account of insolvency.
State True or False with reason:-
A bill of exchange must be presented to the acceptor on the due date.
Find the odd one:-
A person who draws the bill of exchange is known as __________.
A bill whose due date is calculated from the date of acceptance is known a ___________.
Recording the fact of dishonour of Bill is known as ___________.
When Drawee accepts the bill payable at a particular place only, it is known as _________.
Answer in one sentence.
What are days of grace?
Answer in one sentence.
What is noting of the bill?
Answer in one sentence.
What is legal due date?
Answer in one sentence.
What is bills payable on demand?
Define bill of exchange.
Write a short note on:
Endorsement of a bill
Sonali draws a bill on Rupali for ₹ 50,000 for 3 months. Rupali accepts the bill on the same date. Sonali sends the bill to the bank for collection. Before the due date, Rupali finds herself unable to make payment of bill and requests Sonali to renew it. Sonali agrees to the proposal on a condition that Rupali should pay ₹ 20,000 in cash along with interest of 1,000 and accept a new bill for 2 months for the balance. Rupali retired the bill by paying ₹ 27,000.
Give Journal entries in the books of Sonali and prepare Rupali's Account in the books of Sonali.
Give Specimen of Bill of Exchange:
- Drawer: Mr. Ram Das, Pune
- Drawee: Mr. Kapil Deo. Mumbai
- Amount: ₹ 1,05,000
- Tenure : 3 Months
- Date of Bill: 3rd March. 2020
- Date of Acceptance: 7th March, 2020
The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be ______.
The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be ______.
A bill of exchange is a ______.
The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be ______.
Give one word/phrase/term which can substitute the following statement:-
Conversion of Bill of Exchange into its present value.
