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Question
Kinds of Negotiable Instruments
A bill drawn and accepted for a genuine trade transaction is termed as a/an - .
Kinds of Negotiable Instruments
A bill drawn and accepted for a genuine trade transaction is termed as a/an - .
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Solution
The correct option is D Trade bill
Trade Bill is a bill of exchange drawn on and accepted ( trade acceptance) by a trader in payment for goods. It is a kind of bill of exchange drawn on and accepted by a trader in payment for goods. It is issued and/or endorsed (accepted) by non-bank entities and which, therefore, can be discounted only at rates higher than the rate for bank bills.
Trade Bill is a bill of exchange drawn on and accepted ( trade acceptance) by a trader in payment for goods. It is a kind of bill of exchange drawn on and accepted by a trader in payment for goods. It is issued and/or endorsed (accepted) by non-bank entities and which, therefore, can be discounted only at rates higher than the rate for bank bills.
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