Accounting · Banking Operations and Records
What is the primary operational reason for banks to maintain and closely reconcile the Bills for Collection (B/C) Register?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To monitor bills sent for collection that have been dishonoured by the drawee.
- 2To record the discount income earned by the bank on bills.
- 3To track bill maturity dates and ensure timely follow-up for payment from the drawee.✓
- 4To monitor the bank's total contingent liability arising from bills.
Correct answer
To track bill maturity dates and ensure timely follow-up for payment from the drawee.
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