subject

Bills of Exchange

Commerce ⇒ Accountancy

Bills of Exchange starts at 11 and continues till grade 12. QuestionsToday has an evolving set of questions to continuously challenge students so that their knowledge grows in Bills of Exchange. How you perform is determined by your score and the time you take. When you play a quiz, your answers are evaluated in concept instead of actual words and definitions used.
See sample questions for grade 11
A Bill of Exchange is drawn for Rs. 10,000 on 1st March, 2024 for 2 months. Calculate the maturity date.
A Bill of Exchange is drawn for Rs. 12,000, payable after 3 months. If the bill is retired one month before maturity at a rebate of 6% p.a., calculate the amount of rebate.
A Bill of Exchange is drawn for Rs. 20,000 and discounted with the bank at 10% p.a. for 2 months. Calculate the amount received from the bank.
A Bill of Exchange is drawn for Rs. 50,000 and is endorsed to a creditor. On dishonour, who can the creditor claim the amount from?
A Bill of Exchange is drawn for Rs. 10,000 on 1st March, 2024 for 2 months. Calculate the maturity date.
A Bill of Exchange is drawn for Rs. 12,000, payable after 3 months. If the bill is retired one month before maturity at a rebate of 6% p.a., calculate the amount of rebate.
A Bill of Exchange is drawn for Rs. 20,000 and discounted with the bank at 10% p.a. for 2 months. Calculate the amount received from the bank.
A Bill of Exchange is drawn for Rs. 50,000 and is endorsed to a creditor. On dishonour, who can the creditor claim the amount from?
Which of the following is a negotiable instrument? (1) Bill of Exchange (2) Cheque (3) Promissory Note (4) All of these
Which of the following is NOT a feature of a Bill of Exchange? (1) It must be in writing (2) It must be signed by the drawer (3) It must be payable to bearer on demand (4) It must contain an unconditional order to pay
Which of the following is NOT a negotiable instrument? (1) Bill of Exchange (2) Promissory Note (3) Cheque (4) Fixed Deposit Receipt
Which of the following is NOT a party to a Bill of Exchange? (1) Drawer (2) Drawee (3) Payee (4) Endorser
A Bill of Exchange must be in _______.
Fill in the blank: The period of a Bill of Exchange is calculated from the _______ date.
Fill in the blank: The person to whom the amount of the bill is to be paid is called the _______.
The person who accepts the Bill of Exchange is called the _______.
True or False: A Bill of Exchange can be both an order and a promise to pay.
True or False: A Bill of Exchange can be made payable to bearer on demand under the Negotiable Instruments Act, 1881.
True or False: A Bill of Exchange can be made payable to the order of a person.
True or False: A Bill of Exchange can be renewed before its maturity.