Bill of Exchange MCQs
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MCQs 1 to 10
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How many parties are involved in case of discounting of bill?
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!
When a drawer discounts the bill, he gets?
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Wrong!
A bill of exchange is an?
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Wrong!
In case of term bill extra three days are given to acceptor are called?
Correct!
Wrong!
Which of the following is not true?
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Wrong!
In case if endorsement of bill the endorser debits?
Correct!
Wrong!
A person who writes out the order to pay is called?
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Wrong!
It is a period of time after which a bill becomes payable?
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Wrong!
When an acceptor refuses to pay the amount of bill to the holder of bill on its maturity is called?
Correct!
Wrong!
>> Read Bill of Exchange
MCQs 11 to 20
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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?
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Wrong!
Bill payable account is a?
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Wrong!
When a bill is dishonored, the holder of the bill goes to an official called?
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A person who is ordered to pay a bill of exchange is called?
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Interest on renewal of a bill is an expense to the?
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In case of retirement of bill, the rebate or discount is a revenue for the?
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Wrong!
When a drawer discounts a bill, he debits?
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Wrong!
The person to whom the bill is transferred will become?
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A bill of exchange is drawn by?
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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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