Unit 3 - Book Keeping and Basic Accounting - BBA 1st Sem
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Answer - c) To ensure accurate financial statements
Answer - b) Checks that have not been cashed by the recipient
Answer - b) Buying and selling goods on credit
Answer - b) Acknowledging a debt and promising to repay
Answer - a) Deposits made but not yet recorded by the bank
Answer - a) Reconciliation
Answer - a) Error of omission
Answer - d) Rectification
Answer - c) It requires acceptance by the drawee
Answer - d) The date on which the note becomes due for payment
Answer - b) Error of commission
Answer - b) To reconcile differences between the companys and banks records
Answer - b) The bill has been rejected by the drawee
Answer - d) Promissory note itself
Answer - d) Restricting the payment to be made only through a bank
Answer - a) Sight bill
Answer - a) Endorsement
Answer - b) Error of omission
Answer - a) The party who issues the bill
Answer - d) To ensure timely payment in international transactions
Final Score:
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