MCQ Questions Class 11 Bills of Exchange With Answers

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.

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MCQ Questions Class 11 Bills of Exchange with Answers - Set - 4

Question 1:

When noting charges are paid by the bank at the time of dishonour of the bill and the drawee credits:
(a) Bank account
(b) Noting charges account
(c) Neither of the two

Check Answer

Correct Answer – (C)

Question 2:

At the time of endorsement of a bill, the drawee debits:
(a) Bills payable account
(b) Other party ’s account
(c) No entry

Check Answer

Correct Answer – (C)

Question 3:

Bills receivable account is a:
(a) Nominal account
(b) Personal account
(c) Real account

Check Answer

Correct Answer – (C)

Question 4:

A bill of exchange renewed generally at the request of
(a) Drawee
(b) Bank
(c) Drawer
(d) None

Check Answer

Correct Answer – (A)

Question 5:

While calculating the due date of the bill, how many days are added to the period of the bill :
(a) 4 days
(b) 3 days
(c) 5 days
(d) Neither of these

Check Answer

Correct Answer – (B)

MCQ Questions Class 11 Bills of Exchange With Answers

Question 6:

When a bill is discharged, the acceptor debits:
(a) Creditor’s account
(b) Cash account
(c) Bills payable account

Check Answer

Correct Answer – (C)

Question 7:

At the time of retirement of a bill, the acceptor debits:
(a) Bills payable account
(b) Discount account
(c) Neither of two

Check Answer

Correct Answer – (A)

Question 8:

A bill of exchange can not be
(a) Endorsed
(b) Accepted
(c) Refused
(d) Crossed

Check Answer

Correct Answer – (C)

Question 9:

Encashing the bill before the date of its maturity is called :
(a) Dishonour of Bill
(b) Retirement of Bill
(c) Discounting of Bill
(d) Endorsement of Bill

Check Answer