CBSE  /  Class 11  /  Accountancy  /  Bills of Exchange

  • 1. 
    On dishonor of a discounted bill whom does the bank look for payment

  • Drawer
  • Drawee
  • Endorser
  • Payee

  • 2. 
    The act for signing by the drawer on the book of the instruments for the purpose of transfer

  • Acceptance of bill
  • Cheque
  • Endorsement
  • Bill

  • 3. 
    Which balance is shown by a B/R Book

  • Credit
  • None
  • Both
  • Debit

  • 4. 
    On whom the trade bill drawn

  • Seller
  • Creditor
  • Debtor
  • Owner

  • 5. 
    The party who is entitled to receive the cash of a bill receivable is called

  • Drawer
  • Drawee
  • Capitalist
  • Bank

  • 6. 
    Discounting Charges =

  • Amount of Bill Discounted × Rate × Unexpired Period
  • Amount of Bill Discounted × Rate / Unexpired Period
  • Amount of Bill Discounted × Rate + Unexpired Period
  • Amount of Bill Discounted + Rate × Unexpired Period

  • 7. 
    According to Negotiable Instrument Act, 1881, which of the following refers to “an instrument in writing (not being a bank note or a currency note) containing unconditional undertaking, signed by the maker to pay on demand or at a fixed or determinable future time a certain sum of money only to or to the order of a certain person, or to the bearer of the instrument”?

  • Promissory note
  • Bearer debentures
  • Cheque
  • Bill of exchange

  • 8. 
    If the due date is public holiday what will be the due date of the bill

  • Preceding day
  • Following day
  • The same day
  • After two days

  • 9. 
    Fee paid in cash to Notary Public is charged by

  • Holder of bill of exchange
  • Drawee
  • Drawer
  • None

  • 10. 
    Kamal draws a bill on Sahil for Rs. 3000. Kamal endorsed it to Rohan. Rohan endorsed it to Rakesh. The payee of the bill will be

  • Kamal
  • Rakesh
  • Sahil
  • Rohan
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