I.Com Part 1 Principles of Accounting chapter 6 Accounting for Bills of Exchange Short Question Preparation


11th Class Principles of Accounting
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Online Short Questions For Chapter 6 "ICOM Part 1 Principles of Accounting Chapter 6 Short Question Preparation "

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Principles of Accounting - ICOM Part 1 Principles of Accounting Chapter 6 Short Question Preparation

Question # 1

What is meant by discounting of bill of exchange?

  • Ans 1: If the drawer of the bill is in need of money ,he may sell the bill to his banker or any other financial institution,it is called discounting of the bill.On receipt of bill the bank pay cash to the drawer after deducting some percentage of the discount.
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Prepare Complete Set Wise Questions For Chapter 6 "ICOM Part 1 Principles of Accounting Chapter 6 Short Question Preparation "

ICOM Part 1 Principles of Accounting Chapter 6 Short Question Preparation - Set 1

Question # 1

What is meant by discounting of bill of exchange?

  • Ans 1: If the drawer of the bill is in need of money ,he may sell the bill to his banker or any other financial institution,it is called discounting of the bill.On receipt of bill the bank pay cash to the drawer after deducting some percentage of the discount.
Submit

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Principles of Accounting
6th Chapter

11th Class Principles of Accounting Chapter 6 Preparation

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