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51.

Cheque of ₹1,000 received from Ramesh was dishonoured. Journal entry will be :A. Dr. Sales Return A/c and Cr. Ramesh by ₹ 1,000B. Dr. Ramesh and Cr. Bank A/c by ₹1,000C. Dr. Sale Return A/c and Cr. Suspense A/c by ₹1,000D. None of these

Answer» Correct Answer - B
Discussion
52.

A bill drawn for three months on 5th April, 2019 will mature for payment onA. 5th July, 2019B. 8 th July, 2019C. 9th July, 2019D. 10 th August, 2018

Answer» Correct Answer - B
Discussion
53.

Bills Receivable Account isA. an Asset AccountB. an Expense AccountC. a Liability AccountsD. an Income Account .

Answer» Correct Answer - A
Discussion
54.

The rebate on a Bill shows that the billA. has been paid before the date of maturity.B. has been paid after the date of maturityC. has been dishonouredD. None of these

Answer» Correct Answer - A
Discussion
55.

A bill drawn for four months on 8th May, 2018 will mature for payments onA. 8th September, 2018B. 13th September, 2018C. 11th September, 2018D. 8th August, 2018

Answer» Correct Answer - C
Discussion
56.

A Bill of exchange is renewed generally at the request of theA. drawerB. bankC. draweeD. Any of these

Answer» Correct Answer - C
Discussion