Credit Instruments

Credit Instruments

12th Grade

10 Qs

quiz-placeholder

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Credit Instruments

Credit Instruments

Assessment

Quiz

Business

12th Grade

Practice Problem

Medium

Created by

Asma Nadeem

Used 4+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Bank draft has __________ Parties

2

4

6

3

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Following credit Instrument is Non negotiable

Cheque

Bank Draft

Letter of Credit

Bill of Exchange

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Following credit Instrument is negotiable

Cheque

Bank Draft

Bill of Exchange

Promissory Note

All of them

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

________ instruments Never Bounce back

Cheque

Bank Draft

Bill of Exchange

Promissory Note

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Promissory note is written by ________

creditor

Debtor

Exporter

Banker

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The bill is drawn to fulfill the temporary need for money, so there is no question of retaining this bill by the drawer until the due date.

Sight Bill

Time Bill

Trade Bill

Accommodation Bill

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Kinds of LC are

Commercial / Personal

Revocable / Irrevocable

Green / Red

Confirmed / Unconfirmed

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