what is the bills payble and bills receivable

Answer Posted / anubha garg

A written evidence of debt that is payable to the holder; a
promissory note or an acceptance (a bill of exchange that
has been accepted) is in the hands of a person to whom it
is payable a bill receivable. A bill receivable that is
included under the head commercial paper is a promissory
note that has been received for goods sold and that has in
order to effect its discount (sale) been indorsed by the
party who received it.

Is This Answer Correct ?    3 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

What is the use of final account?

1397


Why closing stock appears both in trading and Balance sheet? Why does it doesnot appear in trail balance.

1852


Dear sir i had been called for ntpc interview and gd next month..please guide me for it!

2362


Can any one explain me how profitability analysis s implemented in Sap & tell me which tables get effected by this... i want to know about copa_derive msgtypes also...

1729


What do you mean Business

1815






Why it is necessary to use SAP in an industry? & What is the difference from other advance accounts software like Tally ERP 9? What is the importance of using GAAP for best management decission or why GAAP using by Top Management?

1595


Hi frnds, can any one tell me how much funds has to be there to convince financially sound during the visa interview and what supporting documents has to be produced. What is backlogs means.....hope the best known will answer.

1547


what you mean by cross dunning

1720


Distinguish capital and Revenue receipts

1754


state and explain THREE types of situation to which accounting concept might be applicable

1681


difference betwwen the 4.6 & 4.7 ecc versions

1922


How to maintain Purchase Orders ? Please explain by proper format.

1801


What z d diff of accounting principle,accounting standard,accounting rules,accounting procedures,accounting concepts??????

1881


Hi friends ineed finacial analyst interview question Pls share it

1523


Explain why retained earnings have an opportunity cost associated?

2937