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Question
Answer the following question in one sentence only.
What is foreign bill of exchange?
Solution
A bill of exchange drawn in one country and payable in another is known as foreign bill of exchange.
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Bank account is debited when a bill is sent to the bank for collection.
Answer the following question in one sentence only.
What is inland bill exchange?
Give word / term or phrase for the following statement.
A bill of exchange drawn and accepted for a value received.
Give word / term or phrase for the following statement.
The bill which is drawn in one country and payable in other country.
Write True or False.
The inland bill which is drawn in and payable in the same country.
Write a word / term / phrase as a substitute of the following statement.
A bill which is drawn in India and payable in other country.
