Bill of Exchange MCQs

Previous Practice: Share Capital MCQs

Next Practice: Cost Accounting MCQs



 MCQs 1 to 10

Click The Option and See Result

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

Correct! Wrong!

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

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

Correct! Wrong!

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

Correct! Wrong!

Which of the following is not true?

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!

When a drawer discounts the bill, he gets?

Correct! Wrong!

 

>> Read Bill of Exchange



MCQs 11 to 20

Click The Option and See Result

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

Correct! Wrong!

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

Correct! Wrong!

Bill payable account is a?

Correct! Wrong!

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

Correct! Wrong!

The person to whom the bill is transferred will become?

Correct! Wrong!

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!

A bill of exchange is drawn by?

Correct! Wrong!

When a drawer discounts a bill, he debits?

Correct! Wrong!

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

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.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *