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 - 1
Question 1:
Kamal draws a bill on Sahil for Rs.3000. Kamal endorsed it to Rohan. Rohan endorsed it to Rakesh. The payee of the bill will be
(a) Kamal
(b) Rakesh
(c) Sahil
(d) Rohan
Correct Answer – (B)
Question 2:
If the due date is public holiday what will be the due date of the bill
(a) Preceding day
(b) Following day
(c) The same day
(d) After two days
Correct Answer – (A)
Question 3:
Discounting Charges =
(a) Amount of Bill Discounted × Rate × Unexpired Period
(b) Amount of Bill Discounted × Rate / Unexpired Period
(c) Amount of Bill Discounted × Rate + Unexpired Period
(d) Amount of Bill Discounted + Rate × Unexpired Period
Correct Answer – (D)
Question 4:
On whom the trade bill drawn
(a) Seller
(b) Creditor
(c) Debtor
(d) Owner
Correct Answer – (C)
Question 5:
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)
MCQ Questions Class 11 Bills of Exchange With Answers
Question 6:
Fee paid in cash to Notary Public is charged by
(a) Holder of bill of exchange
(b) Drawee
(c) Drawer
(d) None
Correct Answer – (A)
Question 7:
According to Negotiable Instrument Act, 1881, which of the following refers to “an instrument in writing (not being a bank note or a currency note) containing unconditional undertaking, signed by the maker to pay on demand or at a fixed or determinable future time a certain sum of money only to or to the order of a certain person, or to the bearer of the instrument”?
(a) Promissory note
(b) Bearer debentures
(c) Cheque
(d) Bill of exchange
Correct Answer – (D)
Question 8:
The party who is entitled to receive the cash of a bill receivable is called
(a) Drawer
(b) Drawee
(c) Capitalist
(d) Bank
Correct Answer – (A)
Question 9:
Which balance is shown by a B/R Book
(a) Credit
(b) None
(c) Both
(d) Debit
Correct Answer – (D)
Question 10:
On dishonor of a discounted bill whom does the bank look for payment
(a) Drawer
(b) Drawee
(c) Endorser
(d) Payee
