State Whether the Following Statement is True Or False. - Book Keeping and Accountancy
State whether the following statement is True or False.
A bill of exchange can be endorsed only once.
Bills of exchange can be endorsed multiple times because it is an unconditional order to pay a certain sum of money to the holder of the bill.
Thus, the statement given above is incorrect because it can be endorsed many times.
Concept: Accounting Treatment - Endorsement of the Bill, Honour/ Dishonour and Also Insolvency of Acceptor
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