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12th Standard Commerce The Negotiable Instruments Act 1881 English Medium Free Online Test One Mark Questions 2020 - 2021

12th Standard

    Reg.No. :
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Commerce

Time : 00:10:00 Hrs
Total Marks : 10

    Answer all the questions

    10 x 1 = 10
  1. Negotiable Instrument Act was passed in the year _________

    (a)

    1981

    (b)

    1881

    (c)

    1994

    (d)

    1818

  2. The transferee of a Negotiable Instrument is the one _______________

    (a)

    Who transfer the instrument

    (b)

    On whose name it is transferred

    (c)

    Who enchases it

    (d)

    None of the above

  3. When crossing restrict further negotiation

    (a)

    Not negotiable crossing

    (b)

    General Crossing

    (c)

    A\c payee crossing

    (d)

    Special crossing

  4. A cheque will become stale after _______ months of its date:

    (a)

    3

    (b)

    4

    (c)

    5

    (d)

    1

  5. The law relating to negotiable instruments is dealt in the

    (a)

    Sale of contract Act 1930

    (b)

    Indian contract Act 1872

    (c)

    Negotiable Instruments Act 1881

    (d)

    None of these

  6. Promissory Note, Bill of Exchange or cheque is payable to order is called

    (a)

    Bearer Instrument

    (b)

    Order instrument

    (c)

    Inland instrument

    (d)

    Foreign instrument

  7. Negotiable instrument means a promissory note, bill of exchange or cheque, payable to

    (a)

    bearer

    (b)

    order

    (c)

    either to bearer or order

    (d)

    neither bearer nor order

  8. ____________ is to be made on the face of the instrument or on its back.

    (a)

    Cheque

    (b)

    Bill of exchange

    (c)

    Endorsement

    (d)

    None of these

  9. ____________ means the bill to which no document of title to the goods is attached.

    (a)

    Documentary bill

    (b)

    Clean bill

    (c)

    Time instrument

    (d)

    None of these

  10. _______________ is an instrument in writing containing an unconditional undertaking signed by the maker to pay a certain sum of money.

    (a)

    Promissory note

    (b)

    Bill of exchange

    (c)

    Cheque

    (d)

    None of these

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