Test Details

Bill of Exchange

It's your practice test. Perform according to your ability

Jan 05, 12:35 PM

30 minutes

Jan 05, 1:05 PM

75.0 marks

MCQ

25 questions

veena mahto

My name is veena mahto, a commerce teacher in saraswati shishu vidya mandir dhurwa. I have been teaching since 2011. I have teaching experience in class 12 Economics, Accountancy, Business Studies. I also teach in coaching- COMMERCE MENTORS, harmu bypass road shivdayal nagar. I have 2 NGOs. one in ranchi by name Rang Society and another in my native place west singhbhum by name aadivasi kalyaan samiti in short AAKAS, As member headed my by father (Ex- sub. Major, army) Mr. sonaram kumhar.

Class Details

Accountancy

12 E Accountancy New

Accountancy

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Question Text

Question 1 :
The period intervening between the date on which a bill is drawn and the date on which it becomes due for payment is called

Question 2 :
The cancellation of the old bill maturity in return for a new bill (which includes interest) for an extended period is called________________.

Question 3 :
State whether the following statement is True or False. Noting charges are payable to the Notary public, in case of honour of a bill.

Question 4 :
The true discount on a bill due $9$ months hence at $16$% per annum is $Rs. 189$. The amount of the bill is:

Question 6 :
A bill drawn and accepted on 23rd November 1994 for 2 months will be due for payment on _______________.

Question 8 :
Fees charged by the notary public on dishonouring of bill ______________.

Question 9 :
Cancelling the original bill and drawing a fresh acceptance is known as __________.

Question 10 :
Noting charges is paid only in case of _______________ of a bill.

Question 11 :
Rachel spent $\$24.15$ on vegetables. She bought $2$ lbs of onions, $3$ lbs of carrots and $1$ $\dfrac{1}{2}$ lbs of mushrooms. If the onions cost $\$3.69$ per lb, and the carrots cost $\$4.29$ per lb, what is the price per lb of mushrooms?

Question 12 :
If the bill of exchange of two month's duration is accepted on 15th September its maturity date will be __________.

Question 13 :
A one month bill drawn and accepted on 31st January, will become due on ___________.

Question 15 :
A draws a bill of exchange of $Rs. 8,000$ on B for $4$ months on $15th\ April$. What is the due date if on the due date a public holiday is suddenly declared?

Question 16 :
If the bill is drawn on 3rd July and the duration of bill is 40days, the due date of bill will be ________________.

Question 17 :
A bill dated $1st\ January\ 2014$ is a payable $60$ days after date. The maturity date of the bill will be _________.

Question 19 :
Noting charges are paid in the event of _________ of a bill.

Question 20 :
If tenure of bill is 90days ,accepted on 23rd Dec 1991 its due date will be _____________.

Question 21 :
A draws a bill of exchange of $Rs. 4000$ on B on the $15th\ August$ payable $30$ days after date. The due date of the bill will be _________.

Question 22 :
______ bears the expenses of noting charges on dishonourment of a bill of exchange.

Question 23 :
If the bill is drawn on 14th May and the duration of bill is 90days, the due date of bill will be ________________.

Question 24 :
The account current method in which the days are calculated from the date of transaction to the commencement date is known as ____________.

Question 25 :
If payment is made on the average due date it results in ________________.

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