Download App

Bills of Exchange — Book Keeping & Accountancy STD 12 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsBook Keeping & AccountancyBills of Exchange1 Mark
Question
What is Retirement of a Bill?
✓

Answer

A bill of exchange is said to be retired if its acceptor makes payment of it before its due date, usually after deducting some discount or rebate.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "Answer in One Sentence" from Bills of Exchange→Bills of Exchange — all question types→Book Keeping & Accountancy STD 12 Commerce / Arts question papers→Maharashtra Board STD 12 Commerce / Arts question papers→Maharashtra Board question paper generator→

Similar questions

What does the excess of debit over credits in the Profit and Loss Adjustment Account indicate?
→
When are the Partners Current Account is opened?
→
Which account is credited in the books of the drawer when the discounted bill is dishonoured?
→
How would you treat general reserve on the death of a partner?
→
Give any three examples of current assets.
→
When is the gain ratio calculated?
→
State the main tools or techniques of financial analysis.
→
What is meant by Retirement of a Partner?
→
Give the formula of quick assets.
→
What is the Inland bill of exchange?
→