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Question
Write True or False
Retirement of bill means payment of the bill before due date.
Options
True
False
MCQ
True or False
Solution
True
Explanation: When the drawee makes the payment of the bill before its due date, it is known as retiring the bill. In such cases, the holder of the bill usually allows discount, which is known as rebate.
shaalaa.com
Accounting Treatment of Bill - Retirement of Bill
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