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Question
Answer in one sentence.
What do you mean by rebate?
Solution
The definition of a rebate is a discount given to a customer at the time of purchase, or money sent to a customer after they've paid the full price. Rebate is defined as giving a discount on something or give a portion of an amount billed back to the payer.
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RELATED QUESTIONS
Before acceptance the bill is called a __________.
The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be ____________.
When a bill is drawn for 2 months after date on 3rd Jan. 2020, its due date will be ___________.
Give one word/phrase/term which can substitute the following statement:-
Cancellation of bill on maturity in return of a new bill for extended period of credit.
Give one word/phrase/term which can substitute the following statement:-
Bill of exchange drawn and accepted without any valuable consideration.
State True or False with reason:-
Acceptance of bills without making any changes in the terms of the bill is called qualified acceptance.
State True or False with reason:-
If a bill is drawn payable ‘on-demand’ no grace days are allowed.
Do you agree or disagree with the following statement:-
The person in whose favour the bill is endorsed is known as endorsee.
Do you agree or disagree with the following statement:-
A bill of exchange need not be dated.
Complete the following Table
| Date of Drawing | Date of Acceptance | Payable | Due Date |
| 30.1.2019 | 1.2.2019 | 60 days after date | |
| 17.8.2019 | 21.8.2019 | 3 months after sight | |
| 23.12.2019 | 26.12.2019 | 1 months after date | |
| 28.1.2020 | 28.1.2020 | 1 months after date | |
| 30.6.2019 | 2.7.2019 | 45 days after date |
Prepare a format of bill exchange from the following details :
Rahul Sane, 86-D, Raviwar Peth, Nagpur accepted the bill drawn on him by Prithviraj, Icon Heights, Wardha for ₹ 87,000 on 30th July 2019. The bill was drawn on 26th July 2019 for ₹ 1,00,000 for 90 days after date.
Prepare a format of bill of exchange from the following.
Drawer: Kashmira Shah, Partner M/S Shah, and Shah, 2-C, Matruchaya Building, Akola. Drawee: Dhanashree Traders, Bangalore Road, Belgaum. (Signed by Jayashree, Partner) Payee: M/S Janki Traders, Akola.
Amount : ₹ 64,500
Period of Bill : 3 months
Date of drawing: 12th Sept. 2019
Date of acceptance: 15th Sept. 2019
Prepare a demand bill with imaginary Drawer, Drawee, Address, Amount, and Date.
The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be ______.
Complete the following Table:
| Date of Drawing | Date of Acceptance | Payable | Due Date |
| 30. 1. 2019 | 1. 2. 2019 | 60 Days After Date | ? |
Complete the following table:
| Date of drawing | Date of acceptance | Payable | Due date |
| 23 - 12 - 22 | 26 - 12 - 22 | 1 month after date | ? |
| 28 - 01 - 23 | 28 - 01 - 23 | 1 month after date | ? |
Give Specimen of Bill of Exchange:
Drawer: Bhadresh Shah, A-101, Sakar flats, Bhopal
Drawee: Samir Patel, 105, Himalaya Tower, Indore
Amount: ₹ 70,000
Period of Bill: 60 days after date
Date of Bill: 10th October, 2022
Date of Acceptance: 12th October, 2022
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 ______.
The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be ______.
Give one word/phrase/term which can substitute in the following statement:-
Conversion of Bill of Exchange into its present value.
Give one word/phrase/term which can substitute the following statement:
Conversion of Bill of Exchange into its present value.
Give one word/phrase/term which can substitute the following statement:-
Conversion of Bill of Exchange into its present value.
