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
Bill of Exchange has parties :
  • A
    2
  • B
    3.0
    Correct
  • C
    6
  • D
    4
2
The party which is ordered to pay the amount of bill of exchange is called :
  • A
    None of these
  • B
    Drawer
  • C
    Payee
  • D
    Drawee
    Correct
3
The party which is entitled to receive the payment of bill of exchange is known as :
  • A
    Drawer
  • B
    Drawee
  • C
    None of these
  • D
    Payee
    Correct
4
Due date of a bill of exchange drawn on 30th January, 2011 for one month will be :
  • A
    5 Mar.
  • B
    3 Mar.
    Correct
  • C
    4 Mar.
  • D
    29 Feb.
5
The promissory note should be signed by
  • A
    Drawee
  • B
    Promiser
    Correct
  • C
    Payee
  • D
    Drawer
6
When noting charges are paid by the bank at the time of dishonor of bill the Drawee credits :
  • A
    Cash A/c
  • B
    None of these
  • C
    B/R A/c
  • D
    Drawer's A/c
    Correct
7
While calculating the due date of the bill, how many days are added to the period of the bill :
  • A
    4 days
  • B
    5 days
  • C
    Neither of these
  • D
    3 days
    Correct
8
Encashing the bill before the date of its maturity is called :
  • A
    Discounting of Bill
    Correct
  • B
    Retirement of Bill
  • C
    Endorsement of Bill
  • D
    Dishonour of Bill
9
A bill of exchange renewed generally at the request of
  • A
    Drawee
    Correct
  • B
    Drawer
  • C
    Bank
  • D
    None
10
A bill of exchange can not be
  • A
    Refused
    Correct
  • B
    Endorsed
  • C
    Crossed
  • D
    Accepted
11
If Acceptance received from Ram is endorsed in favor of Salem and it is dishonored now. then we will debit:
  • A
    None
  • B
    Trade receivable
  • C
    Saleem
    Correct
  • D
    Ram
12
The origin of bill receivable book is __
  • A
    The journal
    Correct
  • B
    Ledger
  • C
    Profit
  • D
    Trial
13
If acceptor does not pay the interest charges then the amount of new bill be ____ with the amount of interest
  • A
    Remain same
  • B
    None
  • C
    Decreased
  • D
    Increased
    Correct
14
Bill receivable is an
  • A
    Ledger
  • B
    Capital
  • C
    Asset
    Correct
  • D
    Profit
15
A bill of exchange is renewed at the request of
  • A
    Drawer
  • B
    Drawee
    Correct
  • C
    Payee
  • D
    All