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A Person Who Accepts the Bill is Called __________ - Book Keeping and Accountancy

MCQ

A person who accepts the bill is called __________

Options

  • drawer

  • acceptor

  • payee

  • creditor

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Solution

A person who accepts the bill is called Acceptor.
The person on whom the bill is drawn is called drawee. Bill needs to be signed(accepted) by the drawee, Therefore when drawee accepts the Bill and also becomes the acceptor.

Concept: Parties to the Bill of Exchange
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