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प्रश्न
Answer in one sentence.
What is bills payable on demand?
उत्तर
When amount of bill is payable by a drawee on the presentation of a bill, in which time period is not mentioned and grace days are not allowed is known as Bills Payable on Demand.
संबंधित प्रश्न
Answer in one sentence.
What are noting charges?
Give one word/phrase/term which can substitute the following statement:-
Person who is in possession of Bill of Exchange.
State True or False with reason:-
Inland bill is one which is drawn in one country and payable in another country.
State True or False with reason:-
A bill of exchange must be presented to the acceptor on the due date.
Find the odd one:-
Find the odd one:-
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 ___________.
Fees charged by the bank for collection of bill on behalf of holder is ____________.
Answer in one sentence.
What do you mean by bill of exchange?
Answer in one sentence.
What are days of grace?
Answer in one sentence.
What do you mean by discounting a bill of exchange?
Answer in one sentence.
What is legal due date?
A bill of exchange is a conditional order.
Define bill of exchange.
Write a short note on:
Endorsement of a bill
Bela draws a bill for ₹ 2,00,000 on Prihaan for 4 months period. The bill is duly accepted and returned to Bela. One month after the date, Bela discounted the bill with bank @ 18% p.a.
On the due date, Prihaan dishonoured his acceptance. Bank paid noting charges ₹ 4,500. Prihaan requested Bela to renew the bill for further period of 2 months. Bela agreed and took the bill back from bank and received new acceptance for 40% amount of the bill with full amount of noting charges and cheque for 60% balance plus interest @ 12% p.a.
Write Journal of Bela and Prihaan for the above bill transactions.
Rajesh sold goods on credit to Sulochana for ₹ 25,000. Rajesh draws a bill for ₹ 25,000 on Sulochana for 3 months. Rajesh discounted the bill with his bank @ 10% p.a. on the same day. On the due date of bill, Sulochana requested Rajesh to accept ₹ 5,000 including ₹ 1,000 for interest and to draw a bill for the balance for 3 months. Rajesh agreed to this proposal. One month before the due date, Sulochana retired the bill for ₹ 20,200.
Pass necessary Journal Entries in the books of Rajesh.
The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be______.
Bina draws a bill on Tina for ₹ 24,000 on 6th Oct. 2022 for 3 months. Tina accepts the bill on the same date. Bina sends the bill to Bank for collection on 20th Oct. 2022. Before due date, Tina finds herself unable to make the payment of bill and request Bina to renew it. Bina agree to the proposal on condition that Tina should pay ₹ 10,000 in cash along with interest ₹ 800 and accept a new bill for 2 months for the balance. Tina retired the bill on 12th Jan. 2023 by paying ₹ 13,500.
A bill of exchange is a ______.
Calculate legal due date for the following:
| Date of Bill | Period | Legal due date |
| 19th Jan. 2022 | 60 days | ? |
Write the word/phrase/term which can substitute each of the following statements:
A person in whose favour a bill is endorsed.
The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be ______.
