Q354
Accommodation bill is drawn
A.
To finance actual purchase or sale of goods
B.
To facilitate trade transmission
C.
To cater the fund requirements of both the parties
AnswerD.
None of the above
Answer: Option C
Solution
Answer: Option C
Solution:
Accommodation bill is drawn to cater the fund requirements of both the parties. A bill, draft, or note made, drawn, accepted, or endorsed by one person for another without consideration to enable that other to raise money or obtain credit thereby.