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 12
A bill is dishonoured. Who bears the noting charges?
Define a Bill of Exchange.
Explain the process of endorsement of a Bill of Exchange.
Explain the term 'Accommodation Bill'.
Explain the term 'Noting Charges'.
If a bill is dishonoured, who is primarily liable to pay?
A bill is drawn for Rs. 15,000, interest for renewal is Rs. 300, and part payment made is Rs. 5,000. What is the amount of the new bill?
A bill is drawn for Rs. 25,000, payable after 3 months. The bill is discounted at 12% p.a. Calculate the amount of discount.
A bill is drawn for Rs. 30,000, and the bank discounts it at 8% p.a. for 4 months before maturity. Calculate the amount received from the bank.
A bill is drawn on 10th January, 2024, for 3 months. What is the due date after adding days of grace?
Which of the following is a feature of a Bill of Exchange? (1) It is a negotiable instrument (2) It is always payable on demand (3) It does not require acceptance (4) It is not transferable
Which of the following is an essential element of a Bill of Exchange? (1) It must be signed by the drawer (2) It must be stamped (3) It must be in writing (4) All of the above
Which of the following is NOT a characteristic of a Bill of Exchange? (1) It is an unconditional order (2) It is a conditional promise (3) It must be in writing (4) It must be signed by the drawer
Which of the following is NOT a negotiable instrument? (1) Bill of Exchange (2) Promissory Note (3) Cheque (4) Invoice
A Bill of Exchange must be in _______.
The person to whom the amount of the bill is to be paid is called _______.
State whether the following statement is True or False: A bill can be accepted conditionally.
State whether the following statement is True or False: A bill can be endorsed to another person.
State whether the following statement is True or False: A bill can be made payable to bearer.
State whether the following statement is True or False: A bill can be renewed after its maturity.