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Question
_______ is a short-term, negotiable, self-liquidating instrument which is used to finance the credit sales of firms.
_______ is a short-term, negotiable, self-liquidating instrument which is used to finance the credit sales of firms.
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Solution
The correct option is A Commercial Bill
A commercial bill is a short-term,
negotiable, self-liquidating instrument which is used to finance the
credit sales of firms. Commercial bills are known as trade bills or
accommodation bills. These are common instruments used in credit
purchase and sale. These have short term maturity period generally 90
days and can be discounted with bank even before the maturity period.
A commercial bill is a short-term, negotiable, self-liquidating instrument which is used to finance the credit sales of firms. Commercial bills are known as trade bills or accommodation bills. These are common instruments used in credit purchase and sale. These have short term maturity period generally 90 days and can be discounted with bank even before the maturity period.
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