CA Foundation Exam > CA Foundation Questions > Which of the following statements is true?a)A...
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Which of the following statements is true?
- a)A bill cannot be endorsed more than two times
- b)A bill is drawn by purchaser
- c)A bill contains an unconditional promise to pay
- d)Noting charges are borne by the drawee in the event of dishonour of bill.
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Which of the following statements is true?a)A bill cannot be endorsed ...
Which of the following statements is true?
A: A bill cannot be endorsed more than two times
- This statement is false. There is no specific limit on the number of times a bill can be endorsed.
B: A bill is drawn by the purchaser
- This statement is false. A bill is drawn by the creditor or seller, not the purchaser.
C: A bill contains an unconditional promise to pay
- This statement is true. A bill of exchange contains an unconditional promise by the drawer to pay the specified amount to the payee or bearer.
D: Noting charges are borne by the drawee in the event of dishonor of the bill
- This statement is true. Noting charges, which refer to the expenses incurred in the process of noting and protesting a dishonored bill, are typically borne by the drawee or the party responsible for the dishonor.
Therefore, the correct answer is D: Noting charges are borne by the drawee in the event of dishonor of the bill.
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A: A bill cannot be endorsed more than two times
- This statement is false. There is no specific limit on the number of times a bill can be endorsed.
B: A bill is drawn by the purchaser
- This statement is false. A bill is drawn by the creditor or seller, not the purchaser.
C: A bill contains an unconditional promise to pay
- This statement is true. A bill of exchange contains an unconditional promise by the drawer to pay the specified amount to the payee or bearer.
D: Noting charges are borne by the drawee in the event of dishonor of the bill
- This statement is true. Noting charges, which refer to the expenses incurred in the process of noting and protesting a dishonored bill, are typically borne by the drawee or the party responsible for the dishonor.
Therefore, the correct answer is D: Noting charges are borne by the drawee in the event of dishonor of the bill.
Most Upvoted Answer
Which of the following statements is true?a)A bill cannot be endorsed ...
Yes because it's the liability of the drawee to pay any expenses arising of the dishonour of the bill accepted by him
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Which of the following statements is true?a)A bill cannot be endorsed more than two timesb)A bill is drawn by purchaserc)A bill contains an unconditional promise to payd)Noting charges are borne by the drawee in the event of dishonour of bill.Correct answer is option 'D'. Can you explain this answer?
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Which of the following statements is true?a)A bill cannot be endorsed more than two timesb)A bill is drawn by purchaserc)A bill contains an unconditional promise to payd)Noting charges are borne by the drawee in the event of dishonour of bill.Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which of the following statements is true?a)A bill cannot be endorsed more than two timesb)A bill is drawn by purchaserc)A bill contains an unconditional promise to payd)Noting charges are borne by the drawee in the event of dishonour of bill.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statements is true?a)A bill cannot be endorsed more than two timesb)A bill is drawn by purchaserc)A bill contains an unconditional promise to payd)Noting charges are borne by the drawee in the event of dishonour of bill.Correct answer is option 'D'. Can you explain this answer?.
Which of the following statements is true?a)A bill cannot be endorsed more than two timesb)A bill is drawn by purchaserc)A bill contains an unconditional promise to payd)Noting charges are borne by the drawee in the event of dishonour of bill.Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which of the following statements is true?a)A bill cannot be endorsed more than two timesb)A bill is drawn by purchaserc)A bill contains an unconditional promise to payd)Noting charges are borne by the drawee in the event of dishonour of bill.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statements is true?a)A bill cannot be endorsed more than two timesb)A bill is drawn by purchaserc)A bill contains an unconditional promise to payd)Noting charges are borne by the drawee in the event of dishonour of bill.Correct answer is option 'D'. Can you explain this answer?.
Solutions for Which of the following statements is true?a)A bill cannot be endorsed more than two timesb)A bill is drawn by purchaserc)A bill contains an unconditional promise to payd)Noting charges are borne by the drawee in the event of dishonour of bill.Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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