When a drawee is declared insolvent, which account is to be debited in the books of drawer?
Correct!
Wrong!
When a bill is dishonored, the holder of the bill goes to an official called?
Correct!
Wrong!
A person who is ordered to pay a bill of exchange is called?
Correct!
Wrong!
The bill become payables at any time when they are presented by the holder are called?
Correct!
Wrong!
Bill payable account is a?
Correct!
Wrong!
When a drawer discounts a bill, he debits?
Correct!
Wrong!
The person to whom the bill is transferred will become?
Correct!
Wrong!
In case of retirement of bill, the rebate or discount is a revenue for the?
Correct!
Wrong!
Interest on renewal of a bill is an expense to the?
Correct!
Wrong!
A bill of exchange is drawn by?
Correct!
Wrong!