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Question
Bill of exchange is sometimes known as ____________.
Bill of exchange is sometimes known as ____________.
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Solution
The correct option is A Near money
Bill of Exchange -A non-interest-bearing written order used primarily in international trade that binds one party to pay a fixed sum of money to another party at a predetermined future date. Bills of exchange are similar to cheque and promissory notes. They can be drawn by individuals or banks and are generally transferable by endorsements.Bill of exchange is a liquid asset and also can be discounted by bank before its maturity and hence it is sometimes known as near money.
Bill of Exchange -A non-interest-bearing written order used primarily in international trade that binds one party to pay a fixed sum of money to another party at a predetermined future date. Bills of exchange are similar to cheque and promissory notes. They can be drawn by individuals or banks and are generally transferable by endorsements.
Bill of exchange is a liquid asset and also can be discounted by bank before its maturity and hence it is sometimes known as near money.
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