1.

Give one word/phrase/term which can substitute each of the following statements:i. Acceptance without making any change in the terms of a bill.ii. Acceptance with some changes as regards the terms of a bill.iii. A bill of which payment is to be made after the fixed period.iv. The bill is drawn in one country and payable in other countries.v. Encashment of the bill before the due date.

Answer»

i. General acceptance

ii. Qualified acceptance

iii. After date bill

iv. Foreign bill

v. Discounting



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