Maharashtra State BoardHSC Arts 12th Board Exam
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Give Word / Term Or Phrase for the Following Statement. a Bill of Which Payment to Make on Fixed Period. - Book Keeping and Accountancy

One Word Answer

Give word / term or phrase for the following statement.
A bill of which payment to make on fixed period.

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After date bill
Explanation: When a bill is drawn ‘after date’, the term of the bill starts from the date of drawing of the bill. Three days of grace are also allowed on such bills.

Concept: Important Terms of Bills of Exchange - Term of Bill
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Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 9 Bill of Exchange (Trade Bill)
Exercise | Q 8 | Page 316
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