Bill of exchange

The person who writes out the order is called...?

• Acceptor

• Drawer

• Payee

• Drawee

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

• 3

• 2

• 4

• more

A bill of exchange can not be...?

• accepted

• crossed

• endorsed

• none of these

What is the bill receivable account ?

• nominal account

• real account

• machinery account

• personal account

A bill of exchange includes ..?

• a request to pay

• an order to pay

• a promise to pay

• all the above

When the drawee signs the bill , it is considered as ..?

• renewed

• retired

• accepted

• endorsed

On whom the trade bill drawn ?

• seller

• owner

• creditor

• debtor

A bill of exchange is an...?

• unconditional order

• a request

• a order

• a promise

While calculating the due date of the bill , how many days are added to the period of the bill ?

• 5 days

• 3 days

• 4 days

• neither of these

Bill of exchange is a conditional order to pay the bill..

• within the month

• when the drawer asks

• when the bank asks

• on due date