MCQOPTIONS
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| 1. |
In the books of the drawer, the accounting treatment involved on receipt of a bill of exchange dulyaccepted by the drawee is i. Debit Bills Receivable Account ii. Debit Drawee‘s Account iii. Credit Drawee‘s Account iv. Credit Sales Account |
| A. | Only (i) above |
| B. | Both (ii) and (iv) above |
| C. | Both (i) and (iii) above |
| D. | Both (i) and (iv) above |
| Answer» D. Both (i) and (iv) above | |