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Bill of Exchange(BOE)

will draw a b...

Question

_ will draw a bill upon ____.

A

Creditor, Debtor

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B

Debtor, Creditor

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C

Debtor, Debtor

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D

Creditor, Creditor

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Solution

The correct option is A
Creditor, Debtor

The person who should receive money will draw a bill upon the person who should pay. So Creditor will draw a bill upon his debtor

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Q. A bill of exchange is a conditional order in writing given by a Debtor to a Creditor.

Q. Credit is extended by a creditor, also known as a lender, to a debtor. What is the other name of a debtor?

Q. Extract of trial balance of Mr. Q is as follows.

Particulars	Dr. Rs.	Cr. Rs.
Sundry debtors	$1, 00, 000$	-
Sundry creditors	-	$78, 000$

Additional information:
Included in sundry debtors Rs.

5, 000

due from Mr. A. Included in sundry creditors Rs.

2, 000

payable to Mr.A.
Sundry debtors and creditors will appear in balance sheet at __________ & Rs. ___________.

Q. Transfer of title of the bill from debtor to creditor.

Q. Extract of trial balance of Mr. Q is as follows:

Particulars	Dr. Rs	Cr. Rs
Sundry debtors	1,00,000	-
Sundry creditors	-	78,000

Additional information:
Included in sundry debtors Rs 5,000 due from Mr A. Included in sundry creditors Rs 2,000 payable to Mr. A.
Sundry debtors and creditors will appear in balance sheet at Rs _________ & Rs ____________.

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