Bill Of Exchange CBSE Questions & Answers

Bill Of Exchange

This is Accountancy class 11 bill of exchange CBSE Questions & Answers. There are 15 questions in this test with each question having around four answer choices.

Questions & Answers

1
A Promissory note contains :
  • A
    A request
  • B
    A promise
    Correct
  • C
    An Appeal
  • D
    An order
2
A Promissory Note is prepared by :
  • A
    Creditor
  • B
    None of them
  • C
    Both of them
  • D
    Debtor
    Correct
3
A Bill of Exchange contains :
  • A
    An order
    Correct
  • B
    None of them
  • C
    A Promise
  • D
    A request
4
A Bill of Exchange is prepared by :
  • A
    None of them
  • B
    Debtor
  • C
    Both of them
  • D
    Creditor
    Correct
5
A Bill of Exchange drawn on 4th of April,1994 for 2 months will mature on :
  • A
    7th of June 1994
    Correct
  • B
    6th of June 1994
  • C
    None of these
  • D
    8th of June 1994
6
Noting charge is an expense for :
  • A
    Drawer
  • B
    Bank
  • C
    Drawee
    Correct
  • D
    Endorsee
7
Which of the following is not the part of Bill of Exchange :
  • A
    Drawer
  • B
    Notary
    Correct
  • C
    Payee
  • D
    Drawee
8
A Bill Drawn will be accepted by the:
  • A
    Debtor
  • B
    Creditor
    Correct
  • C
    None of these
  • D
    Bank
9
Maximum days of grace added for maturity date are:
  • A
    2 days
  • B
    5 days
  • C
    4 days
  • D
    3 days
    Correct
10
Kite is the name of :
  • A
    None of these
  • B
    Cheque
  • C
    Bill of Exchange
  • D
    Accommodation Bill
    Correct
11
Notary Public is an officer appointed by the ___________
  • A
    Central or State Government
    Correct
  • B
    Appointed by A Law Firm
  • C
    Appointed by Court
  • D
    None of these
12
Noting charge is a fee paid to the Notary Public for noting and __________
  • A
    Discounting the bill
  • B
    Protesting the Bill of Exchange of its dishonour
    Correct
  • C
    Charging a fine
  • D
    None of these
13
A Bill received and deposited with the bank on the same day is known as _____
  • A
    Bill at sight
  • B
    Discounting the bill
  • C
    Noting of a bill
  • D
    Bill Sent for Collection
    Correct
14
A Promissory Note has two parties namely_________
  • A
    Promisor and Payee
    Correct
  • B
    None of these
  • C
    Drawee and Payee
  • D
    Drawer and Payee
15
Noting is necessary in case of __________
  • A
    None of these
  • B
    Cheque
  • C
    Bill of Exchange
  • D
    Promissory Note
    Correct