Bill of Exchange MCQs

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 MCQs 1 to 10

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When an acceptor refuses to pay the amount of bill to the holder of bill on its maturity is called?

Correct! Wrong!

It is a period of time after which a bill becomes payable?

Correct! Wrong!

A bill of exchange is an?

Correct! Wrong!

In case if endorsement of bill the endorser debits?

Correct! Wrong!

In case of term bill extra three days are given to acceptor are called?

Correct! Wrong!

If the drawer is in need of money and cannot wait till due date and receive the money form bank is called?

Correct! Wrong!

How many parties are involved in case of discounting of bill?

Correct! Wrong!

A person who writes out the order to pay is called?

Correct! Wrong!

Which of the following is not true?

Correct! Wrong!

When a drawer discounts the bill, he gets?

Correct! Wrong!

 

>> Read Bill of Exchange



MCQs 11 to 20

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In case of retirement of bill, the rebate or discount is a revenue for the?

Correct! Wrong!

When a drawee is declared insolvent, which account is to be debited in the books of drawer?

Correct! Wrong!

The person to whom the bill is transferred will become?

Correct! Wrong!

A person who is ordered to pay a bill of exchange is called?

Correct! Wrong!

A bill of exchange is drawn by?

Correct! Wrong!

The bill become payables at any time when they are presented by the holder are called?

Correct! Wrong!

When a bill is dishonored, the holder of the bill goes to an official called?

Correct! Wrong!

Interest on renewal of a bill is an expense to the?

Correct! Wrong!

Bill payable account is a?

Correct! Wrong!

When a drawer discounts a bill, he debits?

Correct! Wrong!

 

>> Practice Final Accounts MCQs

Related Topics

Departmental Accounts MCQs

Departmental Accounts Problems

Company Final Accounts

Company Final Accounts MCQs

Company Final Accounts Problems

References

Afzal, S., & Ch., M. A. (2015). Principles of Accounting (I.Com Part-I). Lahore: Azeem Academy.

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