Multiple choice

If a venturer draws a bill on his co - venture and if the drawer discounts the bill with same sets of books maintained, the discounting charges will be

  1. born by the drawer of the bill

  2. born by the drawee of the bill

  3. recorded in memorandum account

  4. born by the bank
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

 Where Separate sets of books are maintained, all the expenses are to be recorded in Memorandum A/c

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