| 1 |
Bills of exchange is |
- A. An order to pay
- B. A request to pay
- C. A promise to pay
- D. All of the above
|
| 2 |
Promissory note means a: |
- A. Promise to pay fixed amount on fixed date
- B. Promise to pay currency notes on fixed date
- C. Promise to pay goods on fixed date
- D. All of the above
|
| 3 |
The signature of the following is compulsory on B/E: |
- A. Bank
- B. Drawee
- C. Drawer
- D. Both (B) & (C)
|
| 4 |
The payment of draft is made on. |
- A. Sight
- B. Demand
- C. By psot
- D. Phone call
|
| 5 |
Drawee of bank draft is. |
- A. Creditor
- B. Debtor
- C. Issuing bank
- D. Paying bank
|
| 6 |
Endorser of promissory note is a : |
- A. Person who promises to pay
- B. Person who receives the amount of note
- C. Person in whose favour the rights are transferred
- D. Person who trasfers the rights of note
|
| 7 |
Main parties of promissory note are |
- A. One
- B. Two
- C. Three
- D. Four
|
| 8 |
Drawer and payee of inland promissory note belong to |
- A. Same country
- B. Different countries
- C. Different cities
- D. None of the above
|
| 9 |
On issuance of bank draft bank gets. |
- A. Tax
- B. Commission
- C. Profit
- D. Duty
|
| 10 |
Bills of exchange has three: |
- A. Owners
- B. Parties
- C. Shareholders
- D. None of the above
|
