drawing power for cash credit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 January 2011
Hi
Respected Members
I want to know why bills discouting is deducted from calculation of drawing power of cash credit limit while carrying out stock audit.
thanks in advance
Respected Members
I want to know why bills discouting is deducted from calculation of drawing power of cash credit limit while carrying out stock audit.
thanks in advance
CA PARAS BAFNA
(Expert)
06 January 2011
Bills discounted means to that extent facility has already been utilised, so your DP has to be reduced by this amount in CC.
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