Ankit purchased goods worth ` 20,000 from Anuj. In lieu of cash payment, Ankit accepted a bill of exchange of ` 20,000 to be payable after three months. This is an example of

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Question:

Ankit purchased goods worth ` 20,000 from Anuj. In lieu of cash payment, Ankit accepted a bill of exchange of ` 20,000 to be payable after three months. This is an example of

A.

Accommodation Bill

B.

Fictitious Bill

C.

Genuine Bill

D.

Documentary Bill

Answer» c. Genuine Bill

Note: The above multiple-choice question is for all general and Competitive Exams in India.