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Published on: 29/08/2019
Accounting for Bills of Exchange
Download CBSE Class 11th Standard CBSE Accountancy question papers, sample papers, important questions, and previous year solved papers in PDF format. Get free study materials, NCERT solutions, and exam preparation resources for Class 11th Standard CBSE Accountancy
Questions + Answers key
Take MCQ Accountancy Test
1.
Who is a drawee of bill of exchange?
2.
Who is a drawer of bills of exchange?
3.
Name the parties to bills of exchange.
4.
What is Bill of Exchange?
5.
Define negotiable instruments.
6.
The person to whom payment is to be made in a bill or exchange is called payee.
7.
A bill payable on demand is called time bill;
8.
A bill of exchange is drawn for all cash transaction.
9.
A bill of exchange is drawn by the creditor.
10.
A bill of exchange must be accepted by the payee.
11.
A bill of exchange is drawn by the ________ upon his _________.
12.
A bill of exchange is a ____________ instrument.
13.
In a promissory note, the person who makes the promise to pay is called as _________.
14.
Transfer of a negotiable instrument to another person by signing on it, is known as ________.
15.
The person to whom the amount mentioned in the promissory note is payable is known as _________.
1.
( )
Drawee of the bill of exchange is a person upon whom the bill of exchange is drawn, and is the buyer or debtor.
2.
( )
Drawer of the bills of exchange is a person who draws the bills of exchange, and is typically the seller or creditor.
3.
( )
(i) Drawer,
(ii) Drawee,
(iii) Payee.
4.
( )
Bill of Exchange is an instrument in writing containing an unconditional order signed by the drawer directing a certain person or to bearer of the instrument to pay a certain sum of money only to or to the order of a certain person.
5.
( )
Negotiable instruments may be defined as the instruments whose holder can transfer the title of instruments.
6.
(a)
7.
(b)
8.
(b)
9.
(a)
10.
(b)
11.
( )
Drawer, Drawee
12.
( )
Negotiable
13.
( )
Promisor
14.
( )
Endorsement
15.
( )
Promisee
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