CBSE  /  Class 11  /  Accountancy  /  Bills of Exchange

  • 1. 
    A bill of exchange is an?

  • A promise
  • Unconditional order
  • A request
  • A order

  • 2. 
    A person who writes out the order to pay is called?

  • Drawer
  • Acceptor
  • Payee
  • Drawee

  • 3. 
    When a drawer discounts the bill, he gets?

  • More than face value
  • Less than face value
  • Equal to face value
  • None of above

  • 4. 
    In case of term bill extra three days are given to acceptor are called?

  • Days of bill payable
  • Days if bill receivable
  • Days of grace
  • Days of tenor

  • 5. 
    How many parties are involved in case of discounting of bill?

  • Two
  • Three
  • Four
  • Unlimited

  • 6. 
    Bill of Exchange has parties :

  • 6
  • 2
  • 3
  • 4

  • 7. 
    The party which is ordered to pay the amount of bill of exchange is called :

  • Drawee
  • Payee
  • Drawer
  • None of these

  • 8. 
    The party which is entitled to receive the payment of bill of exchange is known as :

  • Drawer
  • Payee
  • Drawee
  • None of these

  • 9. 
    Due date of a bill of exchange drawn on 30th January, 2011 for one month will be :

  • 5 Mar
  • 3 Mar
  • 29 Feb
  • 4 Mar

  • 10. 
    The promissory note should be signed by

  • Payee
  • Drawee
  • Drawer
  • Promiser
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