CA FOUNDATION: ACCOUNTING · BILLS OF EXCHANGE AND PROMISSORY NOTES

Bills of exchange: due date with days of grace

Due date = date of drawing + term (same date in the later month; last day of that month if the date does not exist) + 3 days of grace.

Loading practice…

Worked examples

Example 1 · level 1

Gupta & Sons drew a bill on Imran on 5 April 2026, payable 1 month after date. What is the due date? (Ignore public holidays.)

  1. 7 May 2026
  2. 8 May 2026
  3. 5 May 2026
  4. 9 May 2026
Show solution
  1. 5 April 2026 + 1 month = 5 May 2026.
  2. Add 3 days of grace → 8 May 2026.

Answer: 8 May 2026

Example 2 · level 2

Bansal Steels drew a bill on Harpreet on 10 August 2026, payable 2 months after date. What is the due date? (Ignore public holidays.)

  1. 10 October 2026
  2. 14 October 2026
  3. 12 October 2026
  4. 13 October 2026
Show solution
  1. 10 August 2026 + 2 months = 10 October 2026.
  2. Add 3 days of grace → 13 October 2026.

Answer: 13 October 2026

Example 3 · level 3

Mehta Enterprises drew a bill on Harpreet on 30 March 2026, payable 4 months after date. What is the due date? (Ignore public holidays.)

  1. 30 July 2026
  2. 31 July 2026
  3. 2 August 2026
  4. 1 August 2026
Show solution
  1. 30 March 2026 + 4 months = 30 July 2026.
  2. Add 3 days of grace → 2 August 2026.

Answer: 2 August 2026

Search by task, format or tool name.