Maharashtra State BoardHSC Commerce 12th Board Exam
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Answer the Following Question in One Sentence Only. What is Due Date of Bill? - Book Keeping and Accountancy

One Line Answer

Answer the following question in one sentence only.
What is due date of bill?

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Solution

The date on which the payment of the bill becomes due is called the due date or the date of maturity. While calculating the due date, it is necessary to add three days to the period of bill. These three days are called "days of grace".

Concept: Important Terms of Bills of Exchange - Due Date
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APPEARS IN

Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 9 Bill of Exchange (Trade Bill)
Exercise | Q 4 | Page 316
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