Test: Bills Of Exchange And Promissory - 4


19 Questions MCQ Test Crash Course of Accountancy - Class 11 | Test: Bills Of Exchange And Promissory - 4


Description
This mock test of Test: Bills Of Exchange And Promissory - 4 for CA Foundation helps you for every CA Foundation entrance exam. This contains 19 Multiple Choice Questions for CA Foundation Test: Bills Of Exchange And Promissory - 4 (mcq) to study with solutions a complete question bank. The solved questions answers in this Test: Bills Of Exchange And Promissory - 4 quiz give you a good mix of easy questions and tough questions. CA Foundation students definitely take this Test: Bills Of Exchange And Promissory - 4 exercise for a better result in the exam. You can find other Test: Bills Of Exchange And Promissory - 4 extra questions, long questions & short questions for CA Foundation on EduRev as well by searching above.
QUESTION: 1

​Which of the following instrument is not a negotiable instrument:

Solution:
QUESTION: 2

On 1.1.06 Vikas draws a bill of exchange for Rs 10,000 due for payment after 3 months on Ekta. Ekta accepts to this bill of exchange. On 4.3.06, Ekta retires the bill of exchange at a discount of 12% p.a. Which of the discount is correct for premature payment in the books of Ekta?

Solution:
QUESTION: 3

Neelam sold goods to Dhiman for Rs 4,000 on 1.5.06. On the same day, he drew on Dhiman a bill for the amount for 3 months, which Dhiman duly accepted. Neelam got the bill discounted with her bank before the due date, Dhiman became insolvent. Later, her estate could pay only 40% of the amount due. What will be the amount of deficiency in the books of Dhiman.

Solution:
QUESTION: 4

Which of the following is not a foreign bill:

Solution:
QUESTION: 5

Which of the following is correct for presenting bill to notary public:

Solution:
QUESTION: 6

A drew a bill on B for Rs 50,000 for 3 months. Proceeds are to be shared equally. A got the bill discounted at 12% p.a. and remits required proceeds to B. The amount of such remittance will be:

Solution:
QUESTION: 7

From the following information, find out who can draws the bill if Mr A sold goods to B:

Solution:
QUESTION: 8

When the bill are to be produced to notary public:

Solution:
QUESTION: 9

Which of the following statement is false:

Solution:
QUESTION: 10

Under which circumstances drawer and payee is same person:

Solution:
QUESTION: 11

Which of the following statement is true:

Solution:
QUESTION: 12

Which of the following statement is true:

Solution:
QUESTION: 13

Indian currency is a

Solution:
QUESTION: 14

Gouri sold goods to Gupta on 1.6.06 for Rs 1600. Gupta immediately accepted a three months bill. On due date Gupta requested that the bill be renewed for a fresh period of two months. Gouri agrees provided interest at 9% was paid immediately in cash. What will be the amount of interest in the books of Gouri?

Solution:
QUESTION: 15

X draws a bill on Y on 1.1.05 for Rs 20,000 for 30 days. What will be the maturity date of the bill:

Solution:
QUESTION: 16

Ram’s acceptance to Din for Rs 8,000 renewed at 3 months on the condition that Rs 4,000 be paid in cash immediately and the remaining amount will carry interest @ 12% p.a. The amount of interest will be:

Solution:
QUESTION: 17

A draws a bill on B for Rs 30,000. A wants to endorse it to C in settlement of Rs 35,000 at 2% discount with the help of B’s acceptance and balance in cash. How much cash A will pay to B?

Solution:
QUESTION: 18

Ram gets Ghosh’s acceptance for Rs 12,000 discounted at 2 months at 12% p.a. The amount of discount will be:

Solution:
QUESTION: 19

If the due date is a public holiday, what will be the due date of the bill:

Solution: