Accounting Test Easy Mode

Sr. #	Questions	Answers Choice
1	Bank for collection is a	Permanent Account Fixed Account Current Account Temporary Account
2	The time after which the bill is to be paid	Grace Days Tenor Due Date Extra Days
3	When a drawer discounts a bill, he debits	Bank Account Interest Account Drawee Account Bill Receivable Account
4	A bill which is both drawn and payable within the geographical boundaries of a country	Foreign Bill Local Bill Municipal Bill Inland Bill
5	A bill of exchange is drawn by	Debtor Creditor Endorser Endorsee

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