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Bills of Exchange Test 12

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Bills of Exchange Test 12
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Weekly Quiz Competition
  • Question 1
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    which of these terms is/are not found in accounting of bill of exchange
  • Question 2
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    Excell Associates is a partnership firm, it intent to revalue its goodwill, average profits for the past five years are Rs 25000 p.a. Goodwill is being valued 3 years purchase of average profit. If D is admitted as third partner for 1/3 share of profit. How much D is required to bring in cash as his share of goodwill.
  • Question 3
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    A promises to pay B Rs. $$5,000$$, if India wins World Cup Cricket, $$2007$$. This is a ____________.
  • Question 4
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    Bill of exchanges drawn by two persons on each others for financial help are called.....
  • Question 5
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    An unpaid seller can exercise the right of stoppage of goods in transit
  • Question 6
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    Mohit Draw a Bill of Exchange of Rs. 30,000 payable in 3 months on Rohit. He got it discounted from the bank at a discount of 12% p.a. On due date the bill was returned dishonoured due to bankruptcy of Rohit and final dividend of Re.025 in a rupee was received from the estates of Rohit. Discounting charges on discounting of bill will be _______
  • Question 7
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    Average due date is also called ___________.
  • Question 8
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    Bills Receivables are initially recorded in..........
  • Question 9
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    Contingent liabilities includes ___________.
  • Question 10
    1 / -0
    In consignment sale the persons sending the goods for further sale is known as ___________.
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