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days of grace are allowed in case of time bills for...

This question belongs to Commerce Accounting
Accounting
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___ days of grace are allowed in case of time bills, for calculating date of maturity

Answer & Solution
Correct Answer: Option C
3 days of grace are allowed in case of time bills, for calculating date of maturity. Legal due date of a term/usance bill will be the last day of grace ( maturity date plus three days of grace is the legal due date).
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