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CBSE
Class 11 Accountancy
Bills Of Exchange
Quiz 2
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A bill of exchange is an?
0%
A promise
0%
Unconditional order
0%
A request
0%
A order
Explanation
Unconditional order
A person who writes out the order to pay is called?
0%
Drawer
0%
Acceptor
0%
Payee
0%
Drawee
Explanation
Drawer
When a drawer discounts the bill, he gets?
0%
More than face value
0%
Less than face value
0%
Equal to face value
0%
None of above
Explanation
Less than face value
In case of term bill extra three days are given to acceptor are called?
0%
Days of bill payable
0%
Days if bill receivable
0%
Days of grace
0%
Days of tenor
Explanation
Days of grace
How many parties are involved in case of discounting of bill?
0%
Two
0%
Three
0%
Four
0%
Unlimited
Explanation
Two
Bill of Exchange has parties :
0%
6
0%
2
0%
3
0%
4
Explanation
3
The party which is ordered to pay the amount of bill of exchange is called :
0%
Drawee
0%
Payee
0%
Drawer
0%
None of these
Explanation
Drawee
The party which is entitled to receive the payment of bill of exchange is known as :
0%
Drawer
0%
Payee
0%
Drawee
0%
None of these
Explanation
Payee
Due date of a bill of exchange drawn on 30th January, 2011 for one month will be :
0%
5 Mar
0%
3 Mar
0%
29 Feb
0%
4 Mar
Explanation
3 Mar
The promissory note should be signed by
0%
Payee
0%
Drawee
0%
Drawer
0%
Promiser
Explanation
Promiser
On dishonor of a discounted bill who does the bank look for payment?
0%
Drawer
0%
Payee
0%
Endorser
0%
None
Explanation
Drawer
While calculating the due date of the bill, how many days are added to the period of the bill :
0%
4 days
0%
3 days
0%
5 days
0%
Neither of these
Explanation
3 days
Encashing the bill before the date of its maturity is called :
0%
Dishonour of Bill
0%
Retirement of Bill
0%
Discounting of Bill
0%
Endorsement of Bill
Explanation
Discounting of Bill
A bill of exchange renewed generally at the request of
0%
Drawee
0%
Bank
0%
Drawer
0%
None
Explanation
Drawee
A bill of exchange can not be
0%
Endorsed
0%
Accepted
0%
Refused
0%
Crossed
Explanation
Refused
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