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Commerce · Q407

Accounting

Graduate and Post Graduate · Commerce · question 407

Q407

Discounting of bill by the drawer is done with

A.
Creditor
B.
Drawee
C.
Bank
Answer
D.
Notary public

Answer: Option C

Solution

Answer: Option C
Solution:
Discounting of bill by the drawer is done with Bank. An accepted draft or bill of exchange sold for early payment to a bank or credit institution at less than face value after the bank deducts fees and applicable interest charges.