Bill of Exchange MCQs
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MCQs 1 to 10
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Which of the following is not true?
Correct!
Wrong!
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!
When a drawer discounts the bill, he gets?
Correct!
Wrong!
It is a period of time after which a bill becomes payable?
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!
In case if endorsement of bill the endorser debits?
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!
In case of term bill extra three days are given to acceptor are called?
Correct!
Wrong!
>> Read Bill of Exchange
MCQs 11 to 20
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A person who is ordered to pay a bill of exchange is called?
Correct!
Wrong!
When a drawer discounts a bill, he debits?
Correct!
Wrong!
A bill of exchange is drawn by?
Correct!
Wrong!
The person to whom the bill is transferred will become?
Correct!
Wrong!
Interest on renewal of a bill is an expense to the?
Correct!
Wrong!
When a drawee is declared insolvent, which account is to be debited in the books of drawer?
Correct!
Wrong!
When a bill is dishonored, the holder of the bill goes to an official 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 bill become payables at any time when they are presented by the holder are called?
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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