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HOMEWORK BILL OF EXCHANGE

Authored by Giang Thùy

Business, Special Education

University

10 Questions

Used 26+ times

HOMEWORK BILL OF EXCHANGE
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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following statements is NOT true regarding bills of exchange?

They cannot be voided.

They cannot be cancelled.

They guarantee payment.

They are usually only used for domestic transactions.

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which of the following options defines a bill of exchange?

A legally-binding, written document ordering one party to pay a specific amount of money to a second party.

None of these answers are correct.

A fee you pay when you exchange one product for another.

A document stating that a bill has been paid in full.

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following is a bill of exchange most similar to?

A check

A receipt

A restaurant bill

A mortgage payment

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A bill promise contains:

 A promise 

An unconditional

order

Endorsee

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The acceptor of bill of exchange is called:

Drawee

Endorsee

Payee

Drawer

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The act of transferring the bill from one person to another is called:

Discounting

Acceptance

Endorsement

Retirement

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The period of time after which a bill becomes payable, is called:

Days of Grace

Usance

None of these

Tenor

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