BILL OF EXCHANGE

BILL OF EXCHANGE

1st - 12th Grade

10 Qs

quiz-placeholder

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BILL OF EXCHANGE

BILL OF EXCHANGE

Assessment

Quiz

Other, Business

1st - 12th Grade

Practice Problem

Medium

Created by

Ionela Simona Popescu

Used 52+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

The acceptor of bill of exchange is called:

Drawee

Drawer

Payee

Endorsee

2.

MULTIPLE SELECT QUESTION

10 sec • 1 pt

Bills Receivable Book is a part of

Journal

Ledger

Trading Account

Profit & Loss Account

3.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

A bill of exchange is an?

A promise

Unconditional order

A request

4.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

A person who writes out the order to pay is called?

Drawer

Acceptor

Payee

Drawee

5.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

How many parties are involved in case of discounting of bill?

Two

Three

One

Five

6.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

In case if endorsement of bill the endorser debits?

Creditor account

Cash account

Bill receivable account

Bill payable account

7.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Which of the following is not true?

There is no difference in appearance between trade and accommodation bill

A bill of exchange must be accepted

Drawee is maker of a bill

Accommodation bill is for an imaginary transaction

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