Bills of Exchange Test 13

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Bills of Exchange Test 13

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Weekly Quiz Competition

Question 1
1 / -0

At the time of receipt of payment of BR on the maturity date, the drawer of a bill exchange credits..........

A
Bill receivables A/c

B
Bills payable A/c

C
Drawee A/c

D
None
Question 2
1 / -0

Bills payables are initially recorded in

A
Bills payables book

B
Sales day book

C
Purchase day book

D
Purchase day book as a minus item
Question 3
1 / -0

In consignment sale who send Proforma invoice _____________.

A
Consignor

B
Consignee

C
Banker

D
Customer
Question 4
1 / -0

X draw a bill of exchange on Y for Rs. 25,000 for 3 months on 10-10-13. What is the due date of this bill of exchange

A
13th Jan 14

B
14th Jan 14

C
15th Jan 14

D
16th Jan 14
Question 5
1 / -0

At the time of payment of a BP on the maturity date, the drawee of a bill of exchange debits

A
Bill receivables A/c

B
Bills payable A/c

C
Drawer A/c

D
Cash A/c
Question 6
1 / -0

Discounting of a bill of exchange means..............

A
Encashing the same on the date of maturity from bank

B
Endorsing it to creditor

C
Sending it to bank for collection

D
Encashing the same before the date of maturity from the bank
Question 7
1 / -0

Bill of exchange is defined in sections . of the Negotiable Instrument Act

A
5

B
4

C
10

D
7
Question 8
1 / -0

If a bill of exchange is returned dishonoured, the first thing the drawer to do is to?

A
Lodge a FIR

B
Go to notary public for getting it noted

C
Stop business dealing with the drawee

D
All the three
Question 9
1 / -0

A gets Bs signature on a document transferring Bs flat worth Rs. 30 lakhs to A for Rs. 5 lakhs on the threat of exposing Bs illicit relations. This agreement cannot be enforced because ..

A
Consideration is inadequate

B
Free consent is not there

C
Transfer of immovable property outside the scope of Contract Act

D
Agreement not registered
Question 10
1 / -0

A accepted a bill of exchange promising to pay Rs. $$50,000$$ to B after $$3$$ months, B forged it for Rs. $$50,000$$ after two months. A is liable to pay ___________.

A
Rs. $$50,000$$ after two months

B
Rs. $$50,000$$ after three months

C
Nothing at all

D
Rs. $$50,000$$ after two months

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Re-Attempt Weekly Quiz Competition

Bills of Exchange Test 13

Result

Bills of Exchange Test 13

Score

-

Rank

-

SHARING IS CARING

Question 1

Bill receivables A/c

Bills payable A/c

Drawee A/c

None

Question 2

Bills payables book

Sales day book

Purchase day book

Purchase day book as a minus item

Question 3

Consignor

Consignee

Banker

Customer

Question 4

13th Jan 14

14th Jan 14

15th Jan 14

16th Jan 14

Question 5

Bill receivables A/c

Bills payable A/c

Drawer A/c

Cash A/c

Question 6

Encashing the same on the date of maturity from bank

Endorsing it to creditor

Sending it to bank for collection

Encashing the same before the date of maturity from the bank

Question 7

5

4

10

7

Question 8

Lodge a FIR

Go to notary public for getting it noted

Stop business dealing with the drawee

All the three

Question 9

Consideration is inadequate

Free consent is not there

Transfer of immovable property outside the scope of Contract Act

Agreement not registered

Question 10

Rs. $$50,000$$ after two months

Rs. $$50,000$$ after three months

Nothing at all

Rs. $$50,000$$ after two months

User

Question Analysis

My Perfomance

Score

-

Rank

-

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