Q.1
If Drawer transfer the bill before maturity date is known
  • Renewal of a bill
  • Dishonour of a bill
  • Retirement of a bill
  • Endorsement of a bill
Q.2
A bill payable on demand is called
  • Time Bill
  • Sight Bill
  • Endorsement of bill
  • Retiring of the bill
Q.3
A bill of exchange must be accepted by
  • a. Drawer
  • b. Drawee
  • c. Payee
  • d. Holder of bill
Q.4
If on maturity date of bill is national holiday then maturity date will be next working day.
  • True
  • False
Q.5
A bill payable on demand is called bill at sight.
  • True
  • False
Q.6
Drawee may have to pay interest to the drawer for the extended period of credit.
  • True
  • False
Q.7
A person who draws the bill is known as………..
  • Payee
  • drawee
  • Drawer
  • Both A & B
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