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Ram drew a bill on Shyam on 15th April, 09 Shyam accepted the same on 17th April, 09 for 30 days after sight. What will be the due date of the bill?
- a)18th May,09
- b)15th May, 09
- c)20th May, 09
- d)17th May, 09
Correct answer is option 'C'. Can you explain this answer?
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Ram drew a bill on Shyam on 15thApril, 09 Shyam accepted the same on 1...
Calculation of Due Date of Bill
Bill of Exchange is a financial instrument used in trade and commerce. The due date of a bill is calculated from the date of acceptance of the bill. In this case, Ram drew a bill on Shyam on 15th April 2009, and Shyam accepted the same on 17th April 2009 for 30 days after sight. The due date of the bill is calculated as follows:
Step 1: Calculation of the Date of Sight
The date of sight is the date on which the bill is presented for payment. In this case, the date of sight will be 17th April 2009, the date on which Shyam accepted the bill.
Step 2: Calculation of the Date of Maturity
The date of maturity is the date on which the bill becomes due for payment. In this case, the bill is accepted for 30 days after sight. Therefore, the date of maturity will be calculated as follows:
Date of Sight: 17th April 2009
Add 30 Days: 30 Days from 17th April 2009 is 17th May 2009
Therefore, the due date of the bill is 20th May 2009 (30 days after sight, i.e., 17th May 2009, plus three days of grace period). Hence, the correct option is (c) 20th May 2009.
Bill of Exchange is a financial instrument used in trade and commerce. The due date of a bill is calculated from the date of acceptance of the bill. In this case, Ram drew a bill on Shyam on 15th April 2009, and Shyam accepted the same on 17th April 2009 for 30 days after sight. The due date of the bill is calculated as follows:
Step 1: Calculation of the Date of Sight
The date of sight is the date on which the bill is presented for payment. In this case, the date of sight will be 17th April 2009, the date on which Shyam accepted the bill.
Step 2: Calculation of the Date of Maturity
The date of maturity is the date on which the bill becomes due for payment. In this case, the bill is accepted for 30 days after sight. Therefore, the date of maturity will be calculated as follows:
Date of Sight: 17th April 2009
Add 30 Days: 30 Days from 17th April 2009 is 17th May 2009
Therefore, the due date of the bill is 20th May 2009 (30 days after sight, i.e., 17th May 2009, plus three days of grace period). Hence, the correct option is (c) 20th May 2009.
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Ram drew a bill on Shyam on 15thApril, 09 Shyam accepted the same on 1...
Correct option is OPTION C as due date comes after adding the three days of grace.
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Ram drew a bill on Shyam on 15thApril, 09 Shyam accepted the same on 17thApril, 09 for 30 days after sight. What will be the due date of the bill?a)18thMay,09b)15thMay, 09c)20thMay, 09d)17thMay, 09Correct answer is option 'C'. Can you explain this answer?
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Ram drew a bill on Shyam on 15thApril, 09 Shyam accepted the same on 17thApril, 09 for 30 days after sight. What will be the due date of the bill?a)18thMay,09b)15thMay, 09c)20thMay, 09d)17thMay, 09Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Ram drew a bill on Shyam on 15thApril, 09 Shyam accepted the same on 17thApril, 09 for 30 days after sight. What will be the due date of the bill?a)18thMay,09b)15thMay, 09c)20thMay, 09d)17thMay, 09Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ram drew a bill on Shyam on 15thApril, 09 Shyam accepted the same on 17thApril, 09 for 30 days after sight. What will be the due date of the bill?a)18thMay,09b)15thMay, 09c)20thMay, 09d)17thMay, 09Correct answer is option 'C'. Can you explain this answer?.
Ram drew a bill on Shyam on 15thApril, 09 Shyam accepted the same on 17thApril, 09 for 30 days after sight. What will be the due date of the bill?a)18thMay,09b)15thMay, 09c)20thMay, 09d)17thMay, 09Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Ram drew a bill on Shyam on 15thApril, 09 Shyam accepted the same on 17thApril, 09 for 30 days after sight. What will be the due date of the bill?a)18thMay,09b)15thMay, 09c)20thMay, 09d)17thMay, 09Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ram drew a bill on Shyam on 15thApril, 09 Shyam accepted the same on 17thApril, 09 for 30 days after sight. What will be the due date of the bill?a)18thMay,09b)15thMay, 09c)20thMay, 09d)17thMay, 09Correct answer is option 'C'. Can you explain this answer?.
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