CBSE Class 11 BIlls of Exchange Multiple Choice Questions with Answers. MCQ Questions Class 11 BIlls of Exchange with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 11 BIlls of Exchange with Answers to know their preparation level.
Students who are searching for NCERT MCQ Questions Class 11 BIlls of Exchange with Answers are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 11 BIlls of Exchange with Answers. You can also verify your answers from the provided MCQ Class 11 BIlls of Exchange with Answers. So, ace up your preparation with MCQ of Class 11 Accountancy Examinations.
MCQ Questions Class 11 Bills of Exchange with Answers - Set - 3
Question 1:Â
The promissory note should be signed by
(a) Payee
(b) Drawee
(c) Drawer
(d) Promiser
Correct Answer – (D)
Question 2:Â
The party which is entitled to receive the payment of bill of exchange is known as :
(a) Drawer
(b) Payee
(c) Drawee
(d) None of these
Correct Answer – (B)
Question 4:Â
In case of term bill extra three days are given to acceptor are called?
(a) Days of bill payable
(b) Days if bill receivable
(c) Days of grace
(d) Days of tenor
Correct Answer – (C)
Question 5:Â
A person who writes out the order to pay is called?
(a) Drawer
(b) Acceptor
(c) Payee
(d) Drawee
Correct Answer – (A)
MCQ Questions Class 11 Bills of Exchange With Answers
Question 6:Â
Due date of a bill of exchange drawn on 30th January, 2011 for one month will be :
(a) 5 Mar
(b) 3 Mar
(c) 29 Feb
(d) 4 Mar
Correct Answer – (B)
Question 7:Â
The party which is ordered to pay the amount of bill of exchange is called :
(a) Drawee
(b) Payee
(c) Drawer
(d) None of these
Correct Answer – (A)
Question 8:Â
How many parties are involved in case of discounting of bill?
(a) Two
(b) Three
(c) Four
(d) Unlimited
Correct Answer – (A)
Question 9:Â
When a drawer discounts the bill, he gets?
(a) More than face value
(b) Less than face value
(c) Equal to face value
(d) None of above
Correct Answer – (B)
Question 10:Â
A bill of exchange is an?
(a) A promise
(b) Unconditional order
(c) A request
(d) A order
