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Instruments that are used for the bills of exchange that a company will receive payment for in the future, and the part of the company's accounts that shows these bills. Bills receivable form part of a company's assets.
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Bills receivable are Bills of exchange for whivh the drawer can exrecise his right towards payment on maturity

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ACCOUNTING the bills of exchange that a company will receive payment for in the future, and the part of the company's accounts that shows these bills. Bills receivable form part of a company's assets.

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B/R is a current asset which implies the money is receivable on the date mentioned in that document.
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Bills Recieable is a kind of promisery note, which includes the total amount we are liable to recieve from our debtors on a specific date in future.
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B/R is a current asset which becomes payable on the date of maturity 

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Bills receivable stands for total amount of receivable which are being received from the bills of exchange in possession of the company.
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Bills Receivable and Bills Payable Books. It is used to record the full details of billsreceived from customers and others. All the details of the bill-date, acceptor's name, amount, term, place of payment, etc. are entered in the bills receivable book for presentation and further reference.

 

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For a person who is going to receive money against the Bill, the Bill of Exchange is known as " Bills Receivable".

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Bills Receivable refers to Bill of Exchange (which is a Negotiable instrument). It is a freely transferable instrument and is frequently discounted with banks (banks lend money against the security of these instruments).

It is an instrument in writing signed by the maker (usually the person selling the goods) and accepted by the drawee (usually the purchase of goods) - it orders the drawee to pay a certain sum of money to a certain person or to the bearer of the instrument (this is usually the drawer himself but can also be the bank in case the bill has been discounted with the bank).

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