Have an account?
Skip to Content
Build your own quiz
Suggestions for you
22 questions
Show Answers
See Preview
- 1. Fill in the Blank
Purchases a/c Dr.
To Bank a/c
To ………….a/c
(Bought goods from Mohan and half payment made through cheque and bill accepted for remaining balance)
- 2. Fill in the Blank
Sold goods to Rani Rs.5000 ,Trade Discount @10%, cash discount @2%, a bill drawn for one month for dues of Rs………..
- 3. Fill in the Blank
Bill of Rs.5,000 receivable after two months discounted @ 6% p.a., after discounting bank will pay Rs. ………
- 4. Multiple Choice
A bill was drawn on 12th of July for one month then maturity date will be …….
14th august
15th August
16th August
17th August
- 5. Multiple Choice
A bill was drawn on Aug 21, 2018 for one month, if maturity date is declared emergency holiday then due date will be…………
24th September
25th September
26th October
23rd September
- 6. Multiple Choice
A person who draws the bill is called drawee.
True
False
- 7. Multiple Choice
A charge collected by bank on dishonoured is known as rebate.
True
False
- 8. Multiple Choice
A bill of exchange must be accepted by the payee.
True
False
- 9. Multiple Choice
When discounted bill is dishonoured debtor is debited in the book of drawer.
True
False
- 10. Multiple Choice
If on maturity date of bill is national holiday then maturity date will be next working day.
True
False
- 11. Multiple Choice
If maturity date of bill is unforeseen holiday then maturity date will be next working day.
True
False
- 12. Multiple Choice
Ram says Shyam to pay particular sum of money to him. In this oral transaction negotiable instrument Act applied.
True
False
- 13. Multiple Choice
Dharma draws a bill on Hema. Hema failed to pay amount, now the burden of noting charges will be on Dharam.
True
False
- 14. Multiple Choice
Anand draws a bill on Vijay & maturity date is 15 August now he has to pay amount to Anand on 16 August.
True
False
- 15. Multiple Choice
Maturity date for a bill written on 28 Nov 2015 for three months and 28 January 2016 for one month will be same i.e.2nd March.
True
False
- 16. Multiple Choice
Ram draws a bill on Shyam which is ‘bill at sight’ on 28 March and pay as soon as possible. Then days of grace will be added for computing due date.
True
False
- 17. Multiple Choice
Noting charges are borne by
a. Drawee
b. Drawer
c. Holder of bill
d. Notary Public
- 18. Multiple Choice
If Pankaj’s acceptance which was discounted from bank is dishonoured then the amount will be debited in our books
a. Pankaj
b. Bank
c. Bills Receivable account
d. None of the above
- 19. Multiple Choice
If Sohan’s acceptance which was discounted from bank is dishonoured then the amount will be credited in our books
a. Sohan
b. Bank
c. Bills Receivable account
d. None of the above
- 20. Multiple Choice
If Mohan’s acceptance which was endorsed to Mrs Jivika is dishonoured then the amount will be Credited in our books
a. Mohan
b. Jivika
c. Bills Receivable account
d. None of the above
- 21. Multiple Choice
Bill draw on 23rd Oct.2018 for three months due date is
a. 23rd Jan.2019
b. 24th Jan.2019
c. 25th jan.2019
d. 26th jan.2019
- 22. Multiple Choice
A bill draw on 27th Dec.2015 for two months due date is
a. 27th Feb. 2016
b. 1 st Mar. 2016
c. 2 nd Mar. 2016
d. None of above
- Answer choicesTagsAnswer choicesTags