Business Studies

Which is termed as trade bill?


ANSWER

An instrument drawn outside India.


SOLUTION
Trade bills are typically drawn by the seller of goods and are accepted by the buyer. Accommodation bills do not involve the sale or purchase of any goods and/ or services; rather they are agreements between two parties with the purpose of financial support.
bill of exchange (= a document ordering someone to pay a particular amount at a particular time) that is used to pay for goods: If the trade bill is accepted, in effect the buyer is getting credit from the seller.
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