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Question

When a bill is sent to the bank and instructed that the bill be retained till the date of maturity and realise it, it is said that the bill is .

A
discounted
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B
endorsed
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C
sent for collection
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D
renewed
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Solution

The correct option is C sent for collection
When a bill is sent to the bank and instructed that the bill be retained till the date of maturity and realise it, it is said that the bill is sent for collection.

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