11th class Principles of Accounting chapter 3 online mcq test with answers for I.Com part 1 Principles of Accounting chapter 3(Analysis of Business Transactions and Double Entry System)

Principles of accounting Icom Part 1 English Medium Chapter 3 Online Test

Sr. #	Questions	Answers Choice
1	The time after which the bill is to be paid	Grace Days Tenor Due Date Extra Days
2	When a drawer discounts a bill, he debits	Bank Account Interest Account Drawee Account Bill Receivable Account
3	A bill which is both drawn and payable within the geographical boundaries of a country	Foreign Bill Local Bill Municipal Bill Inland Bill
4	A bill of exchange is drawn by	Debtor Creditor Endorser Endorsee
5	A bill of exchange is a method of payment on	Cash Basis Credit Basis Reserve Basis Accommodation Basis