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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (159)
 Taxation interview questions  Taxation Interview Questions (1915)
 Accounting General interview questions  Accounting General Interview Questions (2843)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4376)
Question
what is Bills Receivables and Bills Payables?
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
Bills Receivable- Receivable against sale of goods/service
provided to the coustomer called S.debtors.
Bills Payable - Payable against Purchased goods or service
received from the party called S.creditors
 
Is This Answer Correct ?    402 Yes 73 No
Jayant Chillal
 
Answer
# 2
Bills Receivables :- purchase bills received from party &
bills payable :- you have to pay creditors bills as per his
bills amount (diducted his TDS), Thats called bills
recevable & payable.
 
Is This Answer Correct ?    282 Yes 118 No
Pradeep Kumar Panigrahi
 
 
 
Answer
# 3
bills receivables is nothing but the amount receivable from
the customers for which the negotiable instrument in the
form of bill of exchange is received from the customer.

bills payable is nothing but the payable to the suppliers
for which the negotiable instrument in the form of bill of
exchange is given to the suppliers.
 
Is This Answer Correct ?    152 Yes 46 No
Nancy
 
Answer
# 4
BILL RECEIVABLE MEANS THE OUTSTANDING BILL WHICH THE
PAYMENT NOT YET RECEIVED.

BILLS PAYABLE MEANS THE OUTSTANDING BILL WHICH THE PAYMENT
NOT YET MADE.
 
Is This Answer Correct ?    89 Yes 12 No
Ramesh
 
Answer
# 5
Bills Payable: means written promise issued to other
traderfor purchase of goods are known as bills payable.
Bills Receivable: means written promise received from other
traders for selling goods are known as bills receiable.
 
Is This Answer Correct ?    67 Yes 24 No
J Vijay Singh
 
Answer
# 6
Generally peoples telling it as sundry debtors & sundry
creditors.

Bills Receivable - This is the amount which has promised to
recieve with the customer in the event of goods sold or
any services rendered.
Bills Payable means the amount payable for the cost of
goods purchased or services received.
 
Is This Answer Correct ?    58 Yes 19 No
Satheesh Sivarajan
 
Answer
# 7
bills receivables is nothing but the amount receivable from
the customers for which the negotiable instrument in the
form of bill of exchange is received from the customer.

bills payable is nothing but the payable to the suppliers
for which the negotiable instrument in the form of bill of
exchange is given to the suppliers.
 
Is This Answer Correct ?    43 Yes 8 No
Ramamoorthy
 
Answer
# 8
BILLS RECEIVABLES AND BILLS PAYABLE IS ALSO KNWON AS
ACCOUNTS RECEIVABLE AND ACCOUNTS PAYABLE. BILLS RECEIVABLE
AND BILLS PAYABLE COMES UNDER THE BILLS OF EXCHANGE. SEC 5
OF THE NEGOTIABLE INSTRUMENTS ACT DEFINES BILLS OF EXCHANGE
AS A BILL OF EXCHANGE IS AN INSTRUMENT DULY SIGNED BY THE
DRAWER, INDICATING THE DRAWEE TO PAY THE SAID AMOUNT ONLY
TO, OR BEAR OF INSTRUMENT.
 
Is This Answer Correct ?    64 Yes 30 No
Raj
 
Answer
# 9
Answer
Bills Payable: the outstanding unpaid notes or
acceptances
Made and issued by an individual or firm.

Bills receivable: the unpaid promissory notes or
Acceptances held by an individual or firm.
 
Is This Answer Correct ?    42 Yes 9 No
Girish
 
Answer
# 10
B/R is a current assets created by offering credit sales to
customers on thier promise to recieve money from them on
any agreed future date (usually not more than one year).
B/P is a current liability created by credit purchase on
promise to pay on any future date not usually more than one
year.
 
Is This Answer Correct ?    18 Yes 2 No
Dr. Mohammed Muslim
 

 
 
 
Other Accounting AllOther Interview Questions
 
  Question Asked @ Answers
 
what balance does fixed assets show? Genpact 5
HOW TO EXPORT ANY LEDGER/VOUCHER IN TALLY IN EXCEL FORMAT. AND HOW CAN WE SEE THE SAME.   6
Is WCT liable to be deducted in Whole of Invoice Value? (including VAT & Service Tax)   3
expand N A V   4
what is the capital goods? PWC 1
what is contingent asset Genpact 5
what is merchant banking ?   2
What is called Take Over?   2
how do you calculates closing stock in Trading A/c   4
give the general entry for Depriciation of machinary Ernst-Young 19
What is the difference betwn "Inventory" and "Stock".   8
what is the need for accounting standard?   1
 
For more Accounting AllOther Interview Questions Click Here 
 
 
 
 
 


   
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