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Maharashtra Board Class 12 Solutions for Accountancy Chapter 7 Bills of Exchange - PDF

Last updated date: 28th May 2024
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Maharashtra Board Class 12th Solutions for Accountancy Chapter 7 Bills of Exchange – Download PDF with Solutions

The Bills of Exchange chapter is included in the syllabus for MSBSHSE Class 12 Accountancy. The term ‘Bills of Exchange’ refers to any business transaction that involves the purchase or sale of products and services with credit or cash. Students can get familiar with the concepts of bills of exchange along with other details in the chapter from the notes provided by experts at Vedantu.

Vedantu offers the Maharashtra Board 12th Textbook solutions Chapter 7 Bills of Exchange in PDF format for students of Class 12. They can use these solutions to get a better grasp of the contents of the chapter. The solutions also help in clarifying any doubts and correcting the mistakes of students. Download the notes now to get some help with your exam preparation.

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Importance of Maharashtra Board Accountancy Class 12 Chapter 7

There is no doubt about the importance of the chapter Bills of Exchange for Class 12 students. They can learn the important features of Bills of Exchange and get other information in the chapter. Some of the important topics in the chapter are Period of Bill, Days of Grace, Date of Maturity, Discounting of Bill, Endorsement of Bill, Dishonour of Bill, Noting or Bill, Renewal of Bill, and Retiring of Bill. These important topics will help students understand how Bills of Exchange work.

In the chapter, students will also see the features of a Promissory Note and understand how it is different from the Bills of Exchange. They will also learn how to prepare a proper draft bill of exchange and understand the different types of bills that are used in transactions. They will also learn about the different accounting treatments related to the bills of exchange.

After finishing the chapter, students can download Maharashtra Board Book Keeping and Accountancy 12th Notes Chapter 7 Bills of Exchange. These notes will help them understand the chapter in detail and answer the questions related to the chapter in the best way. There are also some examples and explanations in the notes which will make the topics easier to understand.

Benefits of MSBSHSE Class 12 Accountancy Chapter 7 Solutions

  • Carefully studying the notes and important solutions will help students delve deeper into the chapter and gain a better understanding of the concept. Several procedures related to bills of exchange have been explained in the notes for the overall understanding of students. 

  • Vedantu experts have created the solutions for the chapter keeping in mind the syllabus and exam pattern of the Maharashtra Board. Including these resources in the study material will definitely help students score good marks in their examinations. 

  • Now students don’t have to worry about taking notes during their class as they can just practice from the Maharashtra Board 12th Important Questions Chapter 7 Bills of Exchange to cement their knowledge about the topics. 

  • Students can use the study material to clarify any doubts that they have about the chapter. They can answer practical and theoretical questions related to the chapter based on the solutions provided for the questions by Vedantu.

Prepare Better With MSBSHSE Class 12 Accountancy Chapter 7 Solutions 

This is your chance to download the Bill of Exchange 12th Problems and Solutions PDF from Vedantu and develop your study routine in the best way. Learn all about the chapter and the concepts from these notes and prepare for your exams properly.

FAQs on Maharashtra Board Class 12 Solutions for Accountancy Chapter 7 Bills of Exchange - PDF

1. Define the term bill of exchange. 

A Bill of Exchange is a written document that is signed by the head of a department guiding them to pay a certain amount for the order made by a certain individual.

2. Can the bills of exchange be drawn by a debtor? 

No, the debtor cannot draw the bill of exchange as per the rules.

3. Is it important for the promissory note to have acceptance?

No, it is not compulsory for the promissory note to have acceptance. 

4. What is the date of maturity of a bill of exchange?

It can be defined as the date on which the bill of exchange becomes due for the payment.

5. What is noting of the bills of exchange? 

The process of noting the bills of exchange can be defined as the recording of the facts of dishonour by a notary public.