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Driving Test
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Commerce
Bill Of Exchange
Quiz 2
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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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