Self Studies

Bill of Exchang...

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  • Question 1
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    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

  • Question 2
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    At the time of payment of a BP on the maturity date, the drawee of a bill of exchange debits

  • Question 3
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    When Bills Receivable is returned dishonored by the drawee, which of these A/c is debited by the drawer

  • Question 4
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    A bill of exchange is drawn by

  • Question 5
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    If a bill of exchange is returned dishonoured, the first thing the drawer to do is to?

  • Question 6
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    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 ___________.

  • Question 7
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    When a BR is dishonoured, Bills receivable a/c is debited by.....

  • Question 8
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    If the act has been done before any promise is made, it is called ..

  • Question 9
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    X consigned $$1,000$$ Kg of Apples costing Rs. $$100$$ per kg to Y. X incurred Rs. $$6,500$$ towards transportation and insurance. Y paid Rs. $$4,000$$ as godowns rent and Rs. $$500$$ as salesman Commission. He could not realize Rs. $$5,000$$ from a customer and the amount became bad debts. During road transportation $$50$$ kg were stolen. He sold $$900$$kg @ $$150$$ per kg. Y is entitled to $$2\%$$ del credere commission. Find the value of abnormal loss.

  • Question 10
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    All instruments which are not instrument are foreign bills.

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