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A draws a bill of Rs.10,000 on B on 23rd December, 2009 for one month. The bill is accepted on 25th December, 2009 by B. The maturity date of the bill will be:
- a)26th January, 2010.
- b)28th January, 2010.
- c)27th January, 2010.
- d)25th January, 2010.
Correct answer is option 'D'. Can you explain this answer?
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A draws a bill of Rs.10,000 on B on 23rd December, 2009 for one month....
Calculating the maturity date of a bill
Definition: A bill of exchange is a written document that is used in international trade to pay for goods or services. It is a type of financial instrument that is similar to a check or a promissory note.
Given: A draws a bill of Rs.10,000 on B on 23rd December, 2009 for one month. The bill is accepted on 25th December, 2009 by B.
To calculate the maturity date of the bill, we need to know the due date or the date when the bill becomes payable. In this case, the bill is drawn for one month, which means it is payable after one month from the date of acceptance.
Calculation:
Step 1: Find the date of acceptance + tenure of the bill
25th December, 2009 + one month = 25th January, 2010
Step 2: Subtract one day to get the maturity date
25th January, 2010 - one day = 24th January, 2010
Step 3: Verify the answer by counting the number of days between the due date and acceptance date
25th January, 2010 - 25th December, 2009 = 31 days
Since the bill is payable after one month from the date of acceptance, the maturity date will be 24th January, 2010.
Answer: The correct option is 'D' - 25th January, 2010.
Definition: A bill of exchange is a written document that is used in international trade to pay for goods or services. It is a type of financial instrument that is similar to a check or a promissory note.
Given: A draws a bill of Rs.10,000 on B on 23rd December, 2009 for one month. The bill is accepted on 25th December, 2009 by B.
To calculate the maturity date of the bill, we need to know the due date or the date when the bill becomes payable. In this case, the bill is drawn for one month, which means it is payable after one month from the date of acceptance.
Calculation:
Step 1: Find the date of acceptance + tenure of the bill
25th December, 2009 + one month = 25th January, 2010
Step 2: Subtract one day to get the maturity date
25th January, 2010 - one day = 24th January, 2010
Step 3: Verify the answer by counting the number of days between the due date and acceptance date
25th January, 2010 - 25th December, 2009 = 31 days
Since the bill is payable after one month from the date of acceptance, the maturity date will be 24th January, 2010.
Answer: The correct option is 'D' - 25th January, 2010.
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Community Answer
A draws a bill of Rs.10,000 on B on 23rd December, 2009 for one month....
Because 25th December 2009+ 30 days(1 month)= 25th January 2010
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A draws a bill of Rs.10,000 on B on 23rd December, 2009 for one month. The bill is accepted on 25th December, 2009 by B. The maturity date of the bill will be:a)26th January, 2010.b)28th January, 2010.c)27th January, 2010.d)25th January, 2010.Correct answer is option 'D'. Can you explain this answer?
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A draws a bill of Rs.10,000 on B on 23rd December, 2009 for one month. The bill is accepted on 25th December, 2009 by B. The maturity date of the bill will be:a)26th January, 2010.b)28th January, 2010.c)27th January, 2010.d)25th January, 2010.Correct answer is option 'D'. Can you explain this answer? for CA CPT 2024 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about A draws a bill of Rs.10,000 on B on 23rd December, 2009 for one month. The bill is accepted on 25th December, 2009 by B. The maturity date of the bill will be:a)26th January, 2010.b)28th January, 2010.c)27th January, 2010.d)25th January, 2010.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA CPT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A draws a bill of Rs.10,000 on B on 23rd December, 2009 for one month. The bill is accepted on 25th December, 2009 by B. The maturity date of the bill will be:a)26th January, 2010.b)28th January, 2010.c)27th January, 2010.d)25th January, 2010.Correct answer is option 'D'. Can you explain this answer?.
A draws a bill of Rs.10,000 on B on 23rd December, 2009 for one month. The bill is accepted on 25th December, 2009 by B. The maturity date of the bill will be:a)26th January, 2010.b)28th January, 2010.c)27th January, 2010.d)25th January, 2010.Correct answer is option 'D'. Can you explain this answer? for CA CPT 2024 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about A draws a bill of Rs.10,000 on B on 23rd December, 2009 for one month. The bill is accepted on 25th December, 2009 by B. The maturity date of the bill will be:a)26th January, 2010.b)28th January, 2010.c)27th January, 2010.d)25th January, 2010.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA CPT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A draws a bill of Rs.10,000 on B on 23rd December, 2009 for one month. The bill is accepted on 25th December, 2009 by B. The maturity date of the bill will be:a)26th January, 2010.b)28th January, 2010.c)27th January, 2010.d)25th January, 2010.Correct answer is option 'D'. Can you explain this answer?.
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A draws a bill of Rs.10,000 on B on 23rd December, 2009 for one month. The bill is accepted on 25th December, 2009 by B. The maturity date of the bill will be:a)26th January, 2010.b)28th January, 2010.c)27th January, 2010.d)25th January, 2010.Correct answer is option 'D'. Can you explain this answer?, a detailed solution for A draws a bill of Rs.10,000 on B on 23rd December, 2009 for one month. The bill is accepted on 25th December, 2009 by B. The maturity date of the bill will be:a)26th January, 2010.b)28th January, 2010.c)27th January, 2010.d)25th January, 2010.Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of A draws a bill of Rs.10,000 on B on 23rd December, 2009 for one month. The bill is accepted on 25th December, 2009 by B. The maturity date of the bill will be:a)26th January, 2010.b)28th January, 2010.c)27th January, 2010.d)25th January, 2010.Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice A draws a bill of Rs.10,000 on B on 23rd December, 2009 for one month. The bill is accepted on 25th December, 2009 by B. The maturity date of the bill will be:a)26th January, 2010.b)28th January, 2010.c)27th January, 2010.d)25th January, 2010.Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA CPT tests.
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