Bills Of Exchange (MCQs)
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Bills Of Exchange (MCQs)
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18 Questions

1. Find the due date of a bill of exchange dated 9th December, 2007, payable after 45 days.
2. Noting charges are ultimately borne by -
3. A bill of exchange cannot be -
4. Refusal by the acceptor to make payment of the bill on the maturity date is called __________.
5. If Rams acceptance which was endorsed by us in favor of Saleem is dishonored, then the amount will be debited in our books to -
6. The Bills Receivable Book is a part of
7. The Rebate on a bill shows that the bill -
8. The party which is ordered to pay the amount is known as -
9. Bills of Exchange contains an unconditional ____________, and Promissory note contains an unconditional _________________.
10. Refusal by the acceptor to pay the bill on the maturity date is called -
11. B has accepted the bill drawn on him by A. Which of the following statements is correct?
12. Canceling an old bill and drawing a new bill is called __________.
13. At the time of renewal of a bill, _____________ account is debited in the books of the drawee.
14. A bill of Rs. 5,000 is discounted with the banker for RS. 4,750. The bill is dishonored at maturity. The drawee pays 60% of his acceptance. What is the amount of bad debts?
15. A Promissory note _____________ the acceptance
16. Three days are added for ascertaining the date of maturity. These are known as days of-
17. A bill accepted and given to a creditor is called ________.
18. A four months bill drawn on 1st January, 2008 will mature for payment on -

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