When bill discounted with the bank is dishonored??

Accounting Mcqs
BILAL KHATTAK0

A. Acceptor’s Account is debited in the books of drawer 
B. Bills Receivable Account is credited in the books of drawer
C. Bank Account is debited in the books of drawer
D. Bills Payable Account is debited in the books of drawer 

Related Mcqs:

  1. In the books of the drawer, the accounting treatment involved on receipt of a bill of exchange duly accepted by the drawee is??
  2. Bank charges amounting to $5000 was not entered in the cash book. Identify the correct adjustment in cash book??
  3. Discount allowed is a kind of deduction from_____________??
  4. $5000 deposited in bank account was entered twice in the cash book. Identify the correct adjustment in cash book.?
  5. Benefits of preparing Bank Reconciliation Statement includes___________??
  6. A few errors committed in Ahhiwalia’s books of account are given below. State which errors would affect the Trial Balance.?
  7. Which of the following error is an error of principle?
  8. Bank sent debit advice of $500 to company being interest on overdraft. It wasn’t entered in cash book. Identify the correct adjustment in cash book.?
  9. Which of the following errors is an error of omission??
  10. 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?

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