Bill of Exchange MCQs

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 MCQs 1 to 10

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

Correct! Wrong!

When a drawer discounts the bill, he gets?

Correct! Wrong!

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

Correct! Wrong!

Which of the following is not true?

Correct! Wrong!

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

Correct! Wrong!

In case if endorsement of bill the endorser debits?

Correct! Wrong!

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

Correct! Wrong!

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

Correct! Wrong!

A bill of exchange is an?

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!

 

>> Read Bill of Exchange



MCQs 11 to 20

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

Correct! Wrong!

When a drawer discounts a bill, he debits?

Correct! Wrong!

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

Correct! Wrong!

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

Correct! Wrong!

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

Correct! Wrong!

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

Correct! Wrong!

A bill of exchange is drawn by?

Correct! Wrong!

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

Correct! Wrong!

The person to whom the bill is transferred will become?

Correct! Wrong!

Bill payable account is a?

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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