Bill of Exchange MCQs
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MCQs 1 to 10
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A bill of exchange is an?
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!
If the drawer is in need of money and cannot wait till due date and receive the money form bank is called?
Correct!
Wrong!
It is a period of time after which a bill becomes payable?
Correct!
Wrong!
In case of term bill extra three days are given to acceptor are called?
Correct!
Wrong!
When a drawer discounts the bill, he gets?
Correct!
Wrong!
A person who writes out the order to pay is called?
Correct!
Wrong!
In case if endorsement of bill the endorser debits?
Correct!
Wrong!
How many parties are involved in case of discounting of bill?
Correct!
Wrong!
>> Read Bill of Exchange
MCQs 11 to 20
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Interest on renewal of a bill is an expense to the?
Correct!
Wrong!
A person who is ordered to pay a bill of exchange is called?
Correct!
Wrong!
Bill payable account is a?
Correct!
Wrong!
In case of retirement of bill, the rebate or discount is a revenue for the?
Correct!
Wrong!
The person to whom the bill is transferred will become?
Correct!
Wrong!
When a bill is dishonored, the holder of the bill goes to an official called?
Correct!
Wrong!
A bill of exchange is drawn by?
Correct!
Wrong!
When a drawee is declared insolvent, which account is to be debited in the books of drawer?
Correct!
Wrong!
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!
>> Practice Final Accounts MCQs
Related Topics
Departmental Accounts MCQs
Departmental Accounts Problems
Company Final Accounts MCQs
Company Final Accounts Problems
More Interest
Bill of Exchange Problems
References
Afzal, S., & Ch., M. A. (2015). Principles of Accounting (I.Com Part-I). Lahore: Azeem Academy.
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