Who gets the proceeds of the accomodation bill ?

Drawer of the bill

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Drawee of the bill

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Drawer & drawee in the agreed ratio

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None of the above

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Solution

The correct option is C
Drawer & drawee in the agreed ratio

Proceeds of the accomodation bill are shared by drawer & drawee in the agreed ratio.

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Similar questions

In accommodation bill the drawee is called the ___and the drawer is called the___.

Which account shall be debited in the books of drawee, when the bill is endorsed by the drawer.

25^{t h}

28^{t h}

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