WorksheetsAVERAGE DUE DATE
Total questions: 11
Worksheet time: 24mins
(a)
BASE DATE OR ZERO DATE CAN BE THE FIRST TRANSACTION DATE OR THE DATE OF LAST TRANSACTION OR ANY OTHER TRANSACTION DATE. TRUE OR FALSE?
(a)
3 DAYS OF GRACE ARE ADDED TO THE DUE DATE ONLY IN CASE OF A NEGOTIABLE INSTRUMENT LIKE A BILL OF EXCHANGE OR A PROMISSORY NOTE. TRUE OR FALSE?
(a)
A BILL OF EXCHANGE DRAWN ON 30TH NOVEMBER 2020 FOR 3 MONTHS WILL BECOME DUE ON :
28TH FEB 2021
29TH FEB 2021
3RD MARCH 2021
5TH MARCH 2021
19TH JULY 2020
22ND JULY 2020
18TH JULY 2020
20TH JULY 2020
17TH JAN 2021
18TH JAN 2021
19TH JAN 2021
21ST JAN 2021
IN CASE OF DUE DATE FALLING ON A PUBLIC HOLIDAY OR A EMERGENCY HOLIDAY THE DUE DATE SHOULD BE TAKEN AS
NEXT WORKING DAY & PREVIOUS WORKING DAY RESPECTIVELY
PREVIOUS WORKING DAY & NEXT WORKING DAY RESPECTIVELY
SAME DAY
SAME DAY + 3 DAYS OF GRACE
REBATE IS ALLOWED TO THE CUSTOMER WHEN HE SETTLES THE TOTAL AMOUNT DUE PRIOR TO THE AVERAGE DUE DATE. TRUE OR FALSE?
(a)
18TH SEPT
27TH AUG
26TH SEPT
2ND SEPT
MR AMEER GIVES A LOAN OF RS. 5,00,000 TO MR GAREEB ON 1ST APRIL 2018. THE AVERAGE DUE DATE CONSIDERING ALL DUE DATES OF REPAYMENTS COMES OUT TO 1ST APRIL 2021. THE RATE OF INTEREST IS 7.5%. IN THIS CASE:
MR AMEER HAS TO GIVE A REBATE OF RS. 1,12,500
MR GAREEB HAS TO PAY INTEREST OF 1,12,500
NO INTEREST IS PAYABLE OR RECEIVABLE
MR. GAREEB IS ENTITLED TO REBATE OF 37,500
AVERAGE DUE DATE IS ONE ON WHICH THE NET AMOUNT PAYABLE CAN BE SETTLED WITHOUT CAUSING LOSS OF INTEREST EITHER TO THE BORROWER OR THE LENDER. TRUE OR FALSE?
(a)
