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 - 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
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
Correct Answer – (C)
Question 3:
Bills receivable account is a:
(a) Nominal account
(b) Personal account
(c) Real account
Correct Answer – (C)
Question 4:
A bill of exchange renewed generally at the request of
(a) Drawee
(b) Bank
(c) Drawer
(d) None
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
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
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
Correct Answer – (A)
Question 8:
A bill of exchange can not be
(a) Endorsed
(b) Accepted
(c) Refused
(d) Crossed
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
Correct Answer – (C)
Question 10:
On dishonor of a discounted bill who does the bank look for payment?
(a) Drawer
(b) Payee
(c) Endorser
(d) None
