Maharashtra State BoardHSC Arts 12th Board Exam
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Write True Or False a Bill of Exchange is Signed by the Person on Whom It is Drawn. - Book Keeping and Accountancy

MCQ
True or False

Write True or False.
A bill of exchange is signed by the person on whom it is drawn.

Options

  • True

  • False

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Solution

False
Explanation:
 A bill of exchange is not signed by the person on whom it is drawn (i.e. the drawee). Rather, it must be signed by the drawer (i.e. the maker) of the bill.

Concept: Accounting Treatment of Bill by the Drawer Or Holder and Drawee
  Is there an error in this question or solution?
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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 2 | Page 316
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