Bill of Exchange

Bill of Exchange

11th Grade

10 Qs

quiz-placeholder

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Bill of Exchange

Bill of Exchange

Assessment

Quiz

Business

11th Grade

Medium

Created by

Iulia k

Used 57+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Media Image

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

Media Image

A person who draws the bill is known as………..

seller

payee

drawer

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

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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