alleryBill of ₹1,00,000 dated 1 March 2022 for 3 months. Maturity date is:
A31 May 2022 final date
B4 June 2022 final date
C1 June 2022 final date
D3 June 2022 final date
Answer & Solution
Correct answer: B. 4 June 2022 final date
1. Bill date + 3 months = 1 June 2022.
2. Add 3 days of grace = 4 June 2022.
3. If the maturity day is a public holiday, then the preceding business day applies.
_Source: ICAI BoS Foundation Paper 1, Ch 6 "Bills of Exchange", §5 ¶2_
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