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 - 5
Question 1:Â
The act for signing by the drawer on the book of the instruments for the purpose of transfer
(a) Acceptance of bill
(b) Cheque
(c) Endorsement
(d) Bill
Correct Answer – (C)
Question 2:Â
Refusal by the acceptor to make payment of the bill on the maturity date is called __________ .
(a) Renewal
(b) Retirement
(c) Rebate
(d) Dishonour
Correct Answer – (D)
Question 3:Â
If Rams acceptance which was endorsed by us in favor of Saleem is dishonored, then the amount will be debited in our books to –
(a) Ram
(b) Saleem
(c) Bills Receivable
(d) None of the options
Correct Answer – (A)
Question 4:Â
Find the due date of a bill of exchange dated 9th December, 2007, payable after 45 days.
(a) 25th January, 2008
(b) 24th January, 2008
(c) 26th January, 2008
(d) 27th January, 2008
Correct Answer – (A)
Question 5:Â
B has accepted the bill drawn on him by A. Which of the following statements is correct?
(a) A can endorse the bill, B cannot endorse the bill
(b) A can endorse the bill
(c) B cannot endorse the bill
(d) B can endorse the bill
Correct Answer – (A)
MCQ Questions Class 11 Bills of Exchange With Answers
Question 6:Â
A bill accepted and given to a creditor is called ________ .
(a) Bill Payable
(b) Bill Receivable
(c) Trade bill
(d) Repair bill
Correct Answer – (A)
Question 7:Â
The Bills Receivable Book is a part of
(a) None of the options
(b) The Ledger
(c) The Profit
(d) The Journal
Correct Answer – (D)
Question 8:Â
Three days are added for ascertaining the date of maturity. These are known as days of-
(a) Grace
(b) Maturity
(c) Payment
(d) None of the options
Correct Answer – (A)
Question 9:Â
A bill of Rs. 5,000 is discounted with the banker for RS. 4,750. The bill is dishonoured at maturity. The drawee pays 60% of his acceptance. What is the amount of bad debts?
(a) Rs. 2,000
(b) Rs. 2100
(c) Rs. 1900
(d) Rs. 1800
Correct Answer – (A)
Question 10:Â
Noting charges are ultimately borne by –
(a) Drawee
(b) Drawer
(c) Payee
(d) Maker
