Self Studies

Bills of Exchan...

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  • Question 1
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    X draws a bill of exchange of $$Rs. 5,000$$ on B for $$4$$ months on $$15th\ February$$. The due date of the bill is ________.

  • Question 2
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    R draws a bill of exchange on S for $$Rs. 8,000$$ for $$4$$ months. He got it discounted with a Bank at $$12$$% p.a. The net proceeds to be received from bank will be _______.

  • Question 3
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    A foreign bill is generally drawn in __________.

  • Question 4
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    A draws a bill of exchange of $$Rs. 2500$$ on B for $$4$$ months on $$2nd$$ February. The due date of the bill of exchange will be ___________.

  • Question 5
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    A draw a bill of exchange on $$B$$ for $$Rs. 3,000$$ for $$4$$ months. He got it discounted with a Bank at $$12$$% p.a. The discount charged by the bank will be _________.

  • Question 6
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    Bill drawn and accepted for genuine trade transaction is called _________.

  • Question 7
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    If X send goods to Y to sell the same at the risk and cost of X, This is a case of__________.

  • Question 8
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    Mr. X accepted a bill of exchange of $$Rs. 1500$$ drawn by Y and payable in $$3$$ months. He got it discounted from bank at $$2$$% discount. The discounting charges amounted to __________.

  • Question 9
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    X draw a 3 months bill of exchange of Rs. 20,000 on Y on 1st April 14. On due date Y paid Rs. 4000 and requested X to draw another bill of exchange for 2 months. On the due date of second bill of exchange Y is declared involvement and a dividend of 25 paise in a rupee is expedited to be realized from his assets. Find the amount receivable from Y in respect of the outstanding bill of exchange.

  • Question 10
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    Who bears noting charges in case of dishonour of a bill of exchange.

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