If the bill of exchange of one month's duration is accepted on 23rd December its maturity date will be ____________.

23rd January

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24th January

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26th January

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25th January

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Solution

The correct option is D 25th January
Legal Due Date = Date of Bill + Period of Bill + 3 grace Days
Therefore Legal Due Date = 23rd Dec + 1 months + 3 Grace days
= 23rd Jan + 3days
=26 Jan [due to public holiday due date is considered on 25th Jan]

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If the bill of exchange of one month's duration is accepted on 23rd December its maturity date will be ____________.

The correct option is D 25th JanuaryLegal Due Date = Date of Bill + Period of Bill + 3 grace DaysTherefore Legal Due Date = 23rd Dec + 1 months + 3 Grace days= 23rd Jan + 3days=26 Jan [due to public holiday due date is considered on 25th Jan]

The correct option is D 25th January
Legal Due Date = Date of Bill + Period of Bill + 3 grace Days
Therefore Legal Due Date = 23rd Dec + 1 months + 3 Grace days
= 23rd Jan + 3days
=26 Jan [due to public holiday due date is considered on 25th Jan]