Maharashtra State BoardHSC Arts 12th Board Exam
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Drawer and Payee of a Bill of Exchange May Be One and the Same Person. - Book Keeping and Accountancy

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Question

Drawer and payee of a bill of exchange may be one and the same person.

Solution

True

Explanation:

A drawer draws the bill of exchange upon the buyer/debtor. Payee is the person to whom payment has to be made and his/her name is mentioned on the Bill of Exchange. Usually, Drawer is the payee. Therefore, drawer and payee may be one and the same person.

 

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APPEARS IN

 2010-2011 (March) (with solutions)
Question 1.5.2 | 3.00 marks

Video TutorialsVIEW ALL [1]

Solution Drawer and Payee of a Bill of Exchange May Be One and the Same Person. Concept: Bill of Exchange Examples and Solutions.
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