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Question
Give one word/phrase/term which can substitute the following statement:
Conversion of Bill of Exchange into its present value.
Solution
Discounting of the bill
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RELATED QUESTIONS
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 ___________.
State True or False with reason:-
Discounting is a device to convert the bill into its present value.
State True or False with reason:-
If a bill is discounted by the holder, no entry is passed in his book when the bill is honoured on the due date.
State True or False with reason:-
If a bill is drawn payable ‘on-demand’ no grace days are allowed.
Find the odd one:-
Answer in one sentence.
What do you mean by rebate?
Do you agree or disagree with the following statement:-
In case of bill drawn payable ‘on-demand,’ no grace days are allowed.
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 bill of exchange form the following information:
Drawer: Shankar, Vadodara, Gujrat.
Drawee: Vinayak, Somwarpeth, Pune.
Amount : ₹ 16,000
Period : 3 months
Date of Bill: 6th Sept. 2019.
Date of acceptance: 11th Sept. 2019.
Prepare a bill of exchange from the following information:
Drawer: Dinesh, P. R. Road, Andheri West.
Drawee: Mahesh, L. B. S. Road, Mulund.
Payee: Amit, Thane West.
Amount: ₹ 9,500
Period of Bill: 4 months after sight.
Date of Bill: 26th Nov. 2019.
Date of acceptance: 29th Nov. 2019.
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.
Complete the following Table:
| Date of Drawing | Date of Acceptance | Payable | Due Date |
| 30.1.2019 | 1.2.2019 | 60 Day after 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 |
| 23 - 12 - 22 | 26 - 12 - 22 | 1 month after date | ? |
| 28 - 01 - 23 | 28 - 01 - 23 | 1 month after date | ? |
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 ______.
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 the following statement:
Conversion of Bill of Exchange into its present value.
The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be ______.
