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 :
The party which is ordered to pay the amount of bill of exchange is called :
The party which is entitled to receive the payment of bill of exchange is known as :
The drawee is the party that pays the sum specified by the bill of exchange. The payee is the one who receives that sum.
Due date of a bill of exchange drawn on 30th January, 2011 for one month will be :
The promissory note should be signed by
On dishonor of a discounted bill whom does the bank look for payment
While calculating the due date of the bill, how many days are added to the period of the bill :
Encashing the bill before the date of its maturity is called :
A bill of exchange renewed generally at the request of
A bill of exchange can not be
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.