Accounting Made Easy

Bills of Exchange CMA Inter Financial Accounting  Question 1.Write short flotes on the following:(a) Accommodation Bill (June 2016, 5 marks)(c) Rebate on Bills Discounted (June 2016, 5 marks)Answer:(a) Accommodation Bill: An Accommodation Bill is a bill of exchange signed by-a party as drawer, drawee, endorser to accommodate another party whose credit is not strong enough […]