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WAEC Commerce 1999 Question 50

Question 50

Purchase and Sale of Goods

A bill of exchange is retired when it is

  1. A.paid before maturity
  2. B.marked "accepted"
  3. C.discounted
  4. D.dishonoured
Show the answer and explanation

Answer: A (paid before maturity)

Explanation

A bill is retired when the acceptor pays it before the due date, usually for a rebate.