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Answer in one sentence. What are days of grace? - Book Keeping and Accountancy

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Question

Answer in one sentence.

What are days of grace?

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Solution

The three extra days allowed to the drawee or the acceptor of a bill for making payment on it are called Days of Grace.

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Chapter 7: Bills of Exchange - Exercise 7.1 (Objective Questions) [Page 303]

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Balbharati Book-Keeping and Accountancy [English] Standard 12 Maharashtra State Board
Chapter 7 Bills of Exchange
Exercise 7.1 (Objective Questions) | Q F. 2) | Page 303
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