Aiou Solved Assignment 2 Code 311 Autumn 2016 Book Keeping

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Aiou Solved Assignment 2 Code 311 Autumn 2016 Book Keeping is ready to upload. This is assignment 2 for this code 311 for the semester autumn 2016. The assignment is totally ready and we assure you this is also prepared by accounting experts. This aiou assignment describes and explain parties and basics of bill of exchange.

AIOU SOLVED ASSIGNMENT 2 CODE 311 AUTUMN 2016 BOOK KEEPING AUTUMN 2016

 Invoice.
The above documents are sent to the importer’s bank along with the bill. Soon after the importer accepts the bill, the documents ore handed over to him by which he is enabled to take delivery of the goods. On the date of maturity of the bill, the importer will make payment. Sometimes, the banker will also finance the importer either through letter of credit or by hypothecating the goods and providing finance.

AIOU SOLVED ASSIGNMENT 2 ACCOUNTING CODE 311 FOR F A

In the case of documents against payment bill, the above mentioned trade documents are handed over to the importer, soon after his making payment for the bill into the bank. There is no risk for the exporter or for the bank. It is done even in domestic trade also. We often come across agreement between the seller and buyer as documents are negotiated through the bank. Here, the lorry receipt or railway receipt is sent by the seller to the buyer’s bank, which delivers the receipt to the buyer after obtaining payment for the consignment.

4. PARTIES OR PAYEE:-
When a bill is payable to a specific person whose name is appearing on the bill, it is called an order bill. This bill can be transferred only by endorsement and delivery. Bearer bill, on the other hand, is payable to any person who is in possession of the bill legally on the date of maturity and to whom payment will be mode by the drawee.

FIND HERE:- AIOU SOLVED ASSIGNMENT 1 CODE 311 AUTUMN 2016
FIND HERE:- AIOU SOLVED ASSIGNMENT 3 CODE 311 AUTUMN 2016
FIND HERE:- AIOU SOLVED ASSIGNMENT 4 CODE 311 AUTUMN 2016

5. TIME BILL:-
A bill payable after a specific date or time is known as time bill and a bill payable on demand is a demand bill. Time bill is otherwise called usance bill. Example for demand bill is cheque. Example: For example, let us suppose A is in need of money, he approaches his friend B and asks him to give him o i000 for $5,000. B also shows his inability but agrees that he will accept a bill of exchange. A draws a bill on B which he accepts at three months. A discounts the bill with his bank and gets the money. After three months but before the due date, A sends $5,000 to B in order to meet his acceptance. B receives amount and pays his acceptance.

AIOU SOLVED ASSIGNMENT 2 CODE 311 AUTUMN 2016 ACCOUNTING

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