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

1. Three days are added for ascertaining the date of maturity. These are known as days of-
2. B has accepted the bill drawn on him by A. Which of the following statements is correct?
3. The Rebate on a bill shows that the bill -
4. If Rams acceptance which was endorsed by us in favor of Saleem is dishonored, then the amount will be debited in our books to -
5. Three days are added for ascertaining the date of maturity. These are known as days of-
6. A bill of exchange cannot be -
7. A Promissory note _____________ the acceptance
8. A bill of exchange cannot be -
9. Find the due date of a bill of exchange dated 9th December, 2007, payable after 45 days.
10. Noting charges are ultimately borne by -
11. 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?
12. B has accepted the bill drawn on him by A. Which of the following statements is correct?
13. A bill accepted and given to a creditor is called ________.
14. Refusal by the acceptor to pay the bill on the maturity date is called -
15. A Promissory note _____________ the acceptance
16. A four months bill drawn on 1st January, 2008 will mature for payment on -
17. The party which is ordered to pay the amount is known as -
18. The Rebate on a bill shows that the bill -

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