Question
Mr. Arvind drew a bill of exchange of ₹1,00,000 payable after 3 months on Mr. Rohit, who accepted the bill. Before maturity, Mr. Arvind endorsed the bill to Mr. Suresh. On the due date, Mr. Rohit defaulted. Who is primarily liable now?
More Bills of Exchange Questions
- Which of the following is an example of transaction in money under GST laws
- A bill of ₹50,000 discounted @12% p.a. for 3 months. Bank discount = ?
- Noting charges are recoverable from:
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- The person who draws a bill of exchange is called the:
- The term 'Days of Grace' in relation to a bill of exchange refers to:
- 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...
- When a bill is discounted with the bank, the party that bears the loss if the bill is dishonored at maturity is the:
- A bill of exchange drawn on 15th March for 2 months will mature on:
- Which accounting standard governs the treatment of inventories in India?
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