Answer / krunal joshi

Practically, latter of credit is a document indicating creditworthyness of
importer to make payment to exporter wherein importer's bank gives a
guarantee to exporter that in case of any abnormality, if importer fails to
make payment then bank will do the same.
While in case of BG bank gives a guarantee to their client that in case of
non performance of the job by contractor, client can encash the BG
from bank. By are of 3types. Advance, security & performance.

scooter fuel is under conveyance and car fuel is under car running & maintenance exp.. Is that right

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On 01-04-2006 Mr. Dhanpal started business with Rs.2,00,000 cash and opened a bank account with Rs.1,50,000. He purchased furniture for his business for Rs.25,000. Goods were bought from Deendayal for Rs.50,000 on credit. He sold goods for Rs.27,000 in cash and 30,000 on credit. He paid Rs. 2,500 for business expenses during April month. Rs. 10,000 was withdrawn for office purposes from the bank. Find out the closing balance of cash and bank.

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Expand ------AICTE

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rtgs

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