| 1 |
Interest on renewal of a bill is the expense of |
- A. Drawer
- B. Drawee
- C. Holder
- D. Endorsee
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| 2 |
How many parties are involved in case of Discounting of a bill ? |
- A. Two
- B. Three
- C. Four
- D. None of these
|
| 3 |
A bill from the point of view of a debtor is called |
- A. Bill Acceptable
- B. Bill Receivable
- C. Bill Payable
- D. None of these
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| 4 |
Real accounts are related to: |
- A. Assets
- B. Expenses, losses and incomes
- C. Customers, creditors
- D. Incomes
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| 5 |
Narration is always written: |
- A. Above each entry
- B. Below each entry
- C. Between of each entry
- D. None of these
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| 6 |
The act of withdrawing a bill of exchange from circulation when it had been paid before the due date |
- A. Renewal of a Bill
- B. Discounting of a Bill
- C. Endorsement of a Bill
- D. Retiring of a Bill
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| 7 |
At the time of drawing a bill the drawer credits: |
- A. Debtors account
- B. Creditors account
- C. bill receivable account
- D. Suppliers account
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| 8 |
When is a drawee is declared insolvent which account is to be debited in the books of drawer |
- A. Deficiency a/c
- B. Bad Debts a/c
- C. Solvency a/c
- D. None of these
|
| 9 |
The time after which the bill is to be paid |
- A. Grace Days
- B. Tenor
- C. Due Date
- D. Extra Days
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| 10 |
Accommodation bills are drawn accepted and endorsed |
- A. Without any Consideration
- B. for some Consideration
- C. for Quarter Consideration
- D. none of the above
|