The date on which the period of the bill expires is called ______

Options

A. Legal Due Date
B. Days of grace
C. The Nominal Due date
D. Date of Drawing

Answer

To solve the question, we need to identify the term used to describe the date on which the period of a bill expires. Here's the step-by-step solution:

### Step 1: Understand the context of the question
The question is asking for a specific term related to bills, which are financial instruments used in transactions. Bills have a validity period after which they expire.

**Hint:** Think about financial instruments and their expiration dates.

### Step 2: Identify the key term
In financial terms, the date on which a bill is no longer valid is referred to as the "nominal due date." This is the day after the last day the bill is considered valid.

**Hint:** Consider what happens to a bill after its validity period ends.

### Step 3: Confirm the definition of nominal due date
The nominal due date is the date on which the payment is due, and it typically falls the day after the bill's validity period ends. This is crucial for understanding when a payment must be made to avoid penalties.

**Hint:** Relate the term to the consequences of not paying on time.

### Final Answer:
The date on which the period of the bill expires is called the **nominal due date**.