Bill of Exchange

Quiz
•
Business
•
11th Grade
•
Medium
Iulia k
Used 57+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
What is a Bill of Exchange?
a written order to a person requiring them to make a specified payment to the signatory or to a named payee
A bill of exchange is an unconditional order in writing
a promissory note
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
On of the main types of bill of exchange
Trade bill
Time Bill of Exchange
Accommodation bill
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A person who draws the bill is known as………..
seller
payee
drawer
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Bill payable on demand is called...
time bill
order bill
bearer bill
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If drawer transfers the bill before maturity date is known
dishonour of a bill
retirement of a bill
renewal a of a bill
endorsement of a bill
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A bill payable on demand is called bill at sight
true
false
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Drawee may have to pay interest to the drawer for the extended period of credit
true
false
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