Maharashtra State BoardHSC Arts 12th Board Exam
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Give Word / Term Or Phrase for the Following Statement. the Bill Which is Drawn in One Country and Payable in Other Country. - Book Keeping and Accountancy

One Word Answer

Give word / term or phrase for the following statement.
The bill which is drawn in one country and payable in other country.

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Solution

Foreign
Explanation: A bill of exchange drawn in one country and payable in another country is known as a foreign bill of exchange. For example, a bill, drawn in India and payable in USA, is a foreign bill.

Concept: Necessity of Bill of Exchange (Only Trade Bill)
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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 9 | Page 316
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