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Write True Or False Bill of Exchange is an Instrument in Writing, Containing an Unconditional Order. - Book Keeping and Accountancy

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Question

Write True or False.
Bill of exchange is an instrument in writing, containing an unconditional order.

Options

  • True

  • False

MCQ
True or False

Solution

True
Explanation:
 A bill of exchange is an instrument containing in writing an unconditional order to pay a certain sum of money only to or to the order of person or bearer of the instrument. It must be signed by the maker, i.e. drawer of the bill.

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Accounting Treatment of Bill by the Drawer Or Holder and Drawee
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Chapter 9: Bill of Exchange (Trade Bill) - Exercise 3 [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 3 | Q 1 | Page 316
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