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Test: Bill Of Exchange - 1


10 Questions MCQ Test Crash Course of Accountancy - Class 11 | Test: Bill Of Exchange - 1


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This mock test of Test: Bill Of Exchange - 1 for Commerce helps you for every Commerce entrance exam. This contains 10 Multiple Choice Questions for Commerce Test: Bill Of Exchange - 1 (mcq) to study with solutions a complete question bank. The solved questions answers in this Test: Bill Of Exchange - 1 quiz give you a good mix of easy questions and tough questions. Commerce students definitely take this Test: Bill Of Exchange - 1 exercise for a better result in the exam. You can find other Test: Bill Of Exchange - 1 extra questions, long questions & short questions for Commerce on EduRev as well by searching above.
QUESTION: 1

This a MCQ (Multiple Choice Question) based practice test of Chapter 6 - Bill of Exchange of Accountancy of Class XI (11) for the quick revision/preparation of School Board examinations

Q  Bill of Exchange has parties :

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QUESTION: 2

The party which is ordered to pay the amount of bill of exchange is called :

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QUESTION: 3

The party which is entitled to receive the payment of bill of exchange is known as :

Solution:

The drawee is the party that pays the sum specified by the bill of exchange. The payee is the one who receives that sum.

QUESTION: 4

Due date of a bill of exchange drawn on 30th January, 2011 for one month will be :
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QUESTION: 5

The promissory note should be signed by
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QUESTION: 6

On dishonor of a discounted bill whom does the bank look for payment
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QUESTION: 7

While calculating the due date of the bill, how many days are added to the period of the bill :
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QUESTION: 8

Encashing the bill before the date of its maturity is called :
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QUESTION: 9

A bill of exchange renewed generally at the request of
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QUESTION: 10

A bill of exchange can not be
Solution:

A bill of exchange is a document used in transactions that orders the payer to pay a certain amount of money to the payee. It is a guarantee of payment on demand or on a specified date, and it cannot be Refused or canceled, like a check.

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