Tag: index of ledger, forms of ledger and process of posting

Bill receivable book only records transactions relating to _________________.

Bill payable book only records transactions relating to ____________.

Consider the following statement, while preparing annual financial statements, the balance of bills receivable account can be treated as.
I. An accrued income
II. An item of assets
III. A "personal account" balance
Of these statement.

A person who draws a bill of exchange is called as _______.

A person on whom the bills of exchange is drawn is called as ______.

A firm which keeps its books of accounts on single entry system has opening balance and closing balance of Bills Receivable as Rs. 9,000 and Rs. 11,000 respectively. Bills collected during the financial period amount to Rs. 20,000. Bills receivable received during the financial period amount to.

While preparing the Annual Financial Statement, the balance of Bills Receivable Account can be treated as a(n) 
1. Accrued Income
2. Item of Asset
3. Personal Account Balance
of these statements

When a bill is discharged, the acceptor debits ________________.

Which of the following is a correct statement ?

A bill payable on demand is called Time bill.