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  • Accounting & Finance for Bankers - 1 (JAIIB)
  • A bill of exchange is drawn on 1st April, 2012, payable a...
Multiple choice

A bill of exchange is drawn on 1st April, 2012, payable after 3 months. The due date of the bill is

  1. 30th June, 2012

  2. 1st July, 2012

  3. 4th July, 2012

  4. 4th August, 2012

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

After three months, the date will be 1st July, 2012. Adding 3 grace days, the final date will be 4th July, 2012.

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