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Give Word / Term Or Phrase for the Following Statement. Payment in Accordance with the Apparent Tenor of the Bill. - Book Keeping and Accountancy

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Question

Give word / term or phrase for the following statement.
Payment in accordance with the apparent tenor of the bill.

One Word/Term Answer

Solution

Honour
Explanation: When the acceptor of the bill pays the amount specified in the bill on the due date, it is called honouring the bill.

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Honouring of Bill
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Chapter 9: Bill of Exchange (Trade Bill) - Exercise 2 [Page 316]

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Micheal Vaz Book Keeping and Accountancy [English] 12 Standard HSC Maharashtra State Board
Chapter 9 Bill of Exchange (Trade Bill)
Exercise 2 | Q 4 | Page 316
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