Under which of the following situations, is journal entry not passed in the books of the drawer??

Accounting Mcqs
BILAL KHATTAK0

A. When a discounted bill is honoured by the drawee on the due date 
B. When a bill is sent to the bank for collection
C. When a bill is renewed at the request of the drawee
D. When a debtor accepts a bill drawn by the drawer 

Related Mcqs:

  1. The drawer of a trade bill passes relevant entries with regard to the transaction involved in it. But, in case of an accommodation bill, he passes an entry in addition to the usual entries. The additional entry so passed is with respect to?
  2. In the books of the drawer, the accounting treatment involved on receipt of a bill of exchange duly accepted by the drawee is??
  3. The noting charges levied on dishonour of an endorsed bill by the Notary Public are to be borne by?
  4. When bill discounted with the bank is dishonored??
  5. When a person purchasing goods on credit he becomes a_________in the books of the seller??
  6. A brief explanation recorded below every entry in general journal is commonly known as__________??
  7. A journal entry in which two or more account is debited or credited is referred as____________??
  8. Which of the following is a type of cash receipt journal cash payment journal??
  9. Transactions that a BUSINESS doesn’t record in any specialised journal are recorded in which of the following journals or day books??
  10. 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?

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