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12th Standard Commerce The Negotiable Instruments Act 1881 English Medium Free Online Test One Mark Questions with Answer Key 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 is freely transferable by delivery if it is a instrument.

    (a)

    Order

    (b)

    Bearer

    (c)

    Both a & b

    (d)

    None of the above

  2. Which endorsement relieves the endorser from incurring liability in the event of dishonour

    (a)

    Restrictive

    (b)

    Faculative

    (c)

    Sans resourse

    (d)

    Conditional

  3. Document of title to the goods exclude

    (a)

    Lorry receipt

    (b)

    Railway receipt

    (c)

    Airway bill

    (d)

    Invoice

  4. The cheque is to be signed by the

    (a)

    drawee

    (b)

    banker

    (c)

    drawer

    (d)

    none of these

  5. An instrument which is not inland instrument is called

    (a)

    Foreign instrument

    (b)

    Bearer instrument

    (c)

    Inland instrument

    (d)

    Ambiguous instrument

  6. When an instrument has been lost it is presumed that it was

    (a)

    expired

    (b)

    duly stamped

    (c)

    stolen

    (d)

    misplaced

  7. The number of parties to a promissory note is

    (a)

    2

    (b)

    4

    (c)

    3

    (d)

    6

  8. Holder of an instruments is a person who holds the instrument.

    (a)

    for a longer period

    (b)

    before maturity

    (c)

    after maturity

    (d)

    on behalf of the owner

  9. An _________________  instrument means an instrument which can be construed either as a promissory note or a bill of exchange.

    (a)

    Inchoate

    (b)

    Ambiguous

    (c)

    Time

    (d)

    Clean bill

  10. A negotiable instrument is freely transferable, by delivery if it is a/an _______________ instrument.

    (a)

    order

    (b)

    bearer

    (c)

    both 'a' and 'b'

    (d)

    none of these

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TN 12th Standard Commerce free Online practice tests

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