HSC Commerce (Marketing and Salesmanship) 12th Board ExamMaharashtra State Board
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An Honour of Bill Means Payment in Accordance with the Apparent Tenor of the Bill. - HSC Commerce (Marketing and Salesmanship) 12th Board Exam - Book Keeping and Accountancy

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Question

An honour of bill means payment in accordance with the apparent tenor of the bill.

Solution

True

Explanation: A bill is said to be honoured when the acceptor of the bill makes payment on the date specified in the bill

 

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APPEARS IN

 2013-2014 (March) (with solutions)
Question 1.4.1 | 1.00 mark
Solution An Honour of Bill Means Payment in Accordance with the Apparent Tenor of the Bill. Concept: Accounting Treatment - Retaining the Bill Till Due Date. Honour Or Dishonour, Insolvency of the Drawee Or Acceptor.
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