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The purpose of accommodation bill is:
  • a)
    To finance actual purchase or sale of goods
  • b)
    To facilitate trade transmission
  • c)
     When both parties are in need of funds
  • d)
    None of the above
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
The purpose of accommodation bill is:a)To finance actual purchase or s...
These bills are discounted by the bank and the proceeds are either retained by the drawer or shared by the two-drawer and drawee.
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The purpose of accommodation bill is:a)To finance actual purchase or sale of goodsb)To facilitate trade transmissionc)When both parties are in need of fundsd)None of the aboveCorrect answer is option 'C'. Can you explain this answer?
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The purpose of accommodation bill is:a)To finance actual purchase or sale of goodsb)To facilitate trade transmissionc)When both parties are in need of fundsd)None of the aboveCorrect 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 The purpose of accommodation bill is:a)To finance actual purchase or sale of goodsb)To facilitate trade transmissionc)When both parties are in need of fundsd)None of the aboveCorrect 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 The purpose of accommodation bill is:a)To finance actual purchase or sale of goodsb)To facilitate trade transmissionc)When both parties are in need of fundsd)None of the aboveCorrect answer is option 'C'. Can you explain this answer?.
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