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A Bill Which is Drawn in One Country and Made Payable in Other Country is Called __________. - Book Keeping and Accountancy

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Question

A bill which is drawn in one country and made payable in other country is called __________.

  • inland bill

  •  hundi
  • foreign bill

  • promissory note

Solution

A bill which is drawn in one country and made payable in other country is called foreign bill.

Explanation:

A bill of exchange drawn in one country and payable in another country is known as a foreign bill of exchange. For example, a bill, drawn in India and payable in USA, is a foreign bill.

Hence, the correct answer is option (c).
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APPEARS IN

 2011-2012 (March) (with solutions)
Question 1.4.3 | 1.00 mark

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Solution A Bill Which is Drawn in One Country and Made Payable in Other Country is Called __________. Concept: Bill of Exchange Examples and Solutions.
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