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
- When a bill is dishonored, the drawer's account is debited in the books of the drawee because:
- The party who is entitled to receive the payment of a bill of exchange is called the:
- A bill of exchange was accepted by the drawee and later discounted by drawer with bank. On maturity, the drawee defaulted. Who is liable?
- When a bill is discounted with the bank, the party that bears the loss if the bill is dishonored at maturity is the:
- 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...
- Which accounting standard governs the treatment of inventories in India?
- CSR stands for
- 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:
- A bill of exchange for ₹40,000 was discounted with the bank for ₹39,500. The amount of discount charged is:
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