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Which of the following is true ? A. no cancellation entry is required when a bill is renewed B. a banker holds discounted bills as an agent for collection C. discount at the time of retirement of a bill in a gain for the drawee D. the noting charges are ultimately borne by the drawer. Which of the following is true ? A. a bill of exchange should be presented on the due date and at the place named. B. a bill can generally be discounted with the banker where the drawee of the bill has an account C. a bill of exchange cannot be transferred by the holder to any other party by mere physical delivery. D. no entry is passed in the books of the drawer in respect of bills sent for collection.

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