What Is a Bill of Exchange Either Accepted or Endorsed

question 6

Multiple Choice

What is a bill of exchange either accepted or endorsed by a bank called?

• A) A commercial bill
• B) A bank bill
• C) A trade bill
• D) A negotiable bill

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Definitions:

Journal Entries

The method used in bookkeeping to record all the financial transactions of a business.

Raw Materials

Fundamental substances used in the creation or manufacturing of goods.

Overapplied Overhead

A condition where the overhead allocated to goods produced exceeds the actual overhead costs incurred.

Cost of Goods Sold

The direct costs attributable to the production of goods sold in a company, including material and labor expenses.