A. Discounting of the bill with the bank
B. Payment of the bill on due date
C. Remitting or receiving the amount
D. Sending the bill to bank for collection
Related Mcqs:
- Under which of the following situations, is journal entry not passed in the books of the drawer??
- In the books of the drawer, the accounting treatment involved on receipt of a bill of exchange duly accepted by the drawee is??
- The noting charges levied on dishonour of an endorsed bill by the Notary Public are to be borne by?
- The accountant of Leo Ltd. recorded a payment by cheque to a creditor for supply of materials as 1,340.56. The bank recorded the cheque at its correct amount of 3,140.56. The Company has not passed any rectification entries and the error is not detected through the bank reconciliation. The impact of this error is?
- The Cabinet approved amendments to the Insurance Law Bill pending in the Rajya Sabha.
- Closing entries are generally passed:?
- Which of the following entries is correct in respect of reserve for discounts on accounts payable??
- Which of the following will not happen if trade union forces up the wage bill?
- The Indian Parliament passed the Biodiversity Bill in the year____________.
- In which case value engineering may not be relevant?
