Question
Mr. A draws a bill of exchange for ₹1,00,000 on Mr. B for 90 days. Mr. B accepts it and it is discounted by Mr. A from the bank. On maturity, Mr. B fails to pay. Who bears the financial loss, and how is the accounting entry passed?
More Bills of Exchange Questions
- Noting charges are recoverable from:
- Noting charges are ultimately borne by the:
- The person who draws a bill of exchange is called the:
- Which of the following is an example of transaction in money under GST laws
- A bill of exchange for ₹40,000 was discounted with the bank for ₹39,500. The amount of discount charged is:
- Mr. A draws a bill of exchange for ₹1,00,000 on Mr. B for 90 days. Mr. B accepts it and it is discounted by Mr. A from the bank. On maturity, Mr. B fails t...
- If revenue from operations is Rs.60,00,000 Gross Profit ratio is 60%, Operating expenses are Rs.4,00,000 and Income tax rate is 30%, what will be the opera...
- When a bill is discounted with the bank, the party that bears the loss if the bill is dishonored at maturity is the:
- When a bill is dishonored, the drawer's account is debited in the books of the drawee because:
- CSR stands for
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt
