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Bill of Exchange Test - 31

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Bill of Exchange Test - 31
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Weekly Quiz Competition
  • Question 1
    1 / -0
    A draws on B a bill of exchange for 33 months of Rs. 20,00020,000 which B accepts. B got it discounted with a bank at 16%16\%. On the due date B did not honour the bill and X got it attested from the notary public on paying noting charges of Rs. 100100. B paid Rs. 6,0006,000 in cash and requested A to draw a fresh bill for the balance amount for next three month at 12%12\% interest. The new bill will be for Rs. ____________.
  • Question 2
    1 / -0
    An offer may be revoked at any time .. communication of acceptance is complete as against . But not afterward
  • Question 3
    1 / -0
    X draws a 3030 days bill of exchange for Rs.25,00025,000 upon Y on 1581415-8-14 find the due date of the bill.
  • Question 4
    1 / -0
    From the following details calculate overriding commission payable to a consignment.
    Invoice price of the goods sold Rs. 200,000200,000
    Selling price of the goods sold Rs. 280,000280,000
    Overriding commission is payable @ 5%5\% of the excess of selling price over invoice price.
  • Question 5
    1 / -0
    For bearing loss on account of bad debts, the consignment agent is allowed _________.
  • Question 6
    1 / -0
    When Bills Receivable is returned dishonored by the drawer, which of these a/c is credited by the drawer
  • Question 7
    1 / -0
    A Consignor is entitled to ........
    Solution
    A consignor is an individual or party that brings a good to be sold on their behalf by another party, which is called the consignee.
    Consignor is entitled to profit on consignment whereas consignee is entitled to commission on sales, del crede commission, and reimbursement of expenses.
    Therefore C is the correct option.
  • Question 8
    1 / -0
    Which of the following option is not available to the drawer of bill of exchange
  • Question 9
    1 / -0
    If the buyer obtains delivery of goods before arrival at the destination, transit
  • Question 10
    1 / -0
    In which of the following cases acceptance of goods by the buyer is deemed a valid acceptance
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