Accounting Quiz or Test Your Accounting Knowledge on Bills of Exchange

July 23rd, 2010 Comments off
Share |

Refresh or test your accounting knowledge on bills of exchange:

QUESTIONS:1.0  Define a bill of exchange

2.0  Explain the process of “discounting” a bill of exchange

3.0  “Bills receivable” in the books of a business record amounts of money owing to the business. True or false?

4.0  What are the accounting entries when a bill with a face value of $5,000 is discounted for $4,750?

 

Click here to go to all other articles on Content Page on Accounting Quiz or Test your bookkeeping or accounting knowledge

Comments are closed now.

Financial Accounting

 
 

Advertise Here | Brain Teasers/Puzzles | Greeting Cards | Inspirational Quotes | Jokes/Humor | Useful Links | Motivational Stories | Resource | Shopping | Share/Express Your Views | Testimonials | Universities/Colleges | Words of Wisdom from Religions | FREE POSTING OF ACCOUNTING & FINANCE JOBS VACANCY|