11th Grade > Accountancy
BILLS OF EXCHANGE MCQs
Total Questions : 30
| Page 1 of 3 pages
Answer: Option C. -> The person who draws the bill
:
C
Drawer is the person who draws the bill.
:
C
Drawer is the person who draws the bill.
Answer: Option B. -> Z
:
B
Since the bill has been endorsed in favor of Z, Y will have to pay the amount to Z.
:
B
Since the bill has been endorsed in favor of Z, Y will have to pay the amount to Z.
Answer: Option A. -> Y
:
A
Y is the drawee of the bill.
:
A
Y is the drawee of the bill.
Answer: Option A. -> Creditor, Debtor
:
A
The person who should receive money will draw a bill upon the person who should pay. So Creditor will draw a bill upon his debtor
:
A
The person who should receive money will draw a bill upon the person who should pay. So Creditor will draw a bill upon his debtor
Answer: Option D. -> Crossed cheque
:
D
A crossed cheque can only be paid in account & hence it is not a negotiable instrument.
:
D
A crossed cheque can only be paid in account & hence it is not a negotiable instrument.
Answer: Option A. -> True
:
A
Drawer and Payee can be the same person in case of a bill of exchange. The statement is true.
:
A
Drawer and Payee can be the same person in case of a bill of exchange. The statement is true.
Answer: Option A. -> Rs. 375
:
A
Discount = Rs.12,500∗12%∗312=Rs.375
:
A
Discount = Rs.12,500∗12%∗312=Rs.375
Answer: Option C. -> When any one or both parties are in need of funds
:
C
The purpose of accommodation bill is when any one or both parties are in need of funds.
:
C
The purpose of accommodation bill is when any one or both parties are in need of funds.
Answer: Option A. -> Drawer of the bill
:
A
Interest on renewal of bill is a revenue of Drawer.
:
A
Interest on renewal of bill is a revenue of Drawer.
Answer: Option A. -> Rs. 240
:
A
Discount
= Rs. 12,000∗12%∗212 = Rs. 240.
:
A
Discount
= Rs. 12,000∗12%∗212 = Rs. 240.
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