Write True or FalseRenewal is a request by drawee to extend the credit

1.	Write True or FalseRenewal is a request by drawee to extend the credit period of the bill.OptionsTrueFalse
Answer» True Explanation: Sometimes, the acceptor of a bill is unable to meet the bill on its due date. In such cases, he might request the holder of the bill to cancel the original bill and draw a new bill in place of the old one. This is known as renewal of bill.

Write True or FalseRenewal is a request by drawee to extend the credit period of the bill.OptionsTrueFalse

Answer»

True

Explanation: Sometimes, the acceptor of a bill is unable to meet the bill on its due date. In such cases, he might request the holder of the bill to cancel the original bill and draw a new bill in place of the old one. This is known as renewal of bill.

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Write True or FalseRenewal is a request by drawee to extend the credit period of the bill.OptionsTrueFalse

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