Can anyone explain me accountancy class 11 chapter bill of exchange?

Question

Can anyone explain me accountancy class 11 chapter  bill of exchange?

Answer

Well just go through the lesson once more nd try to understand the language nd the concept behind the chapter(NCERT BOOK)...i know that it is difficult to understand it at one glance bt just try 2-3 times to read thoroughly..nd if then also u r facing problem then u can ask question regarding the chapter here ..nd yeah this is my personal suggestion that u can also watch videos on youtube regarding this bt at frst read the ncert book..Good Luck!

Answer

Its really easy only u need to know the entry and the journal entry.

Answer

Bill of exchange means it was drawn by the drawer and send to the drawee for money   ,there three parties drawer ,drawee ,payee and there are honoured and dishonoured bill 'honoured means on the due date of bill the amount settled by drawee and dishonoured bill means amount settled on due date and another one is noting charges :it means when the bill was dishonoured  send notice with help of  (lawyer)and send to drawee ,,,,,endosement is important in bill of exchange it means transferable of owner ship (when the bill exchange to drawee the drawer of the bill due to some money reason drawer endose the bill to third party is called endowsment ,in this chapter drawe take money from Bank by giving bill of the debt of  drawee and bank charge fixed rate of interest and gave money

Answer

Bill of exchange is easy chapter actually you have to only observe the different cases  and don't try to learn entry try to understand what it is actually for further doubt chat with me

Answer

That it is so easy u have observed that the transaction are done by u  so it can be easy for u I can give u a good example to understand what is Bill of exchangeFor example; I am pick my bike ride it alone and after that I crash into a car ...and another one crash to my bike ....so first I have to give some money to that I crash her car but another one crash my bike so I will exchange bill my bike crashers he will payee and he pay to first one that I crash her car that called bill of exchange........!I HOPE IT MAY BE CLEAR ......?!

Answer

Bill of exchange is defined as an instrument in writing containing an unconditional order,signed by the maker directing a certain person to pay a certain sum of money only to or to the order of a certain person or to the bearer of the instrument. A bill of exchange is generally drawn by the creditor upon his debtor. It has to be accepted by the drawee ( debtor) or someone on his behalf.

There are three parties to a bill of exchange : –
1..Drawer ..
2.. Drawee..
3.. Payee..

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