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Bills of Exchan...

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  • Question 1
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    On 1.6.05 X draws a bill on Y for Rs. 50,000. At maturity Y requested X to accept Rs. 10,000 and noting charges incurred Rs. 200 in cash and for the balance X draws a bill on Y for 2 months at 12% p.a. Interest amount will be _________.

  • Question 2
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    At the time of endorsement of a bill, the drawer credits _________.

  • Question 3
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    Which of the following instruments is not a negotiable instrument?

  • Question 4
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    Under which circumstances drawer and payee is same person?

  • Question 5
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    For mutual accommodation of A and B, B accepted a bill drawn on him by A for 2 months Rs. 12,000. The said bill is discounted at 12% p.a and remitted 1/3rd of the proceeds to B. The amount remitted by A to B will be _________.

  • Question 6
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    A bill of exchange contains ___________.

  • Question 7
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    Bills receivable discounted but not done till the date of final accounts is shown in ___________.

  • Question 8
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    X draws a bill on Y for Rs10,00010,000. X endorsed it to Z. Y will pay the amount of the bill on maturity to _______.

  • Question 9
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    A bill from the point of view of a creditor is called  ___________ .

  • Question 10
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    A bill of exchange contains a/an _________________.

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