Question # 1

Draft drawn and pid in two different parties int he same country is called.

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Foreign draft

Demand draft

Local draft

None of these

Bill in which drawer belonging to two different countries:

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Inland bill

Foreign bill

Accommodation bill

None of the above

The signature of the following is compulsory on B/E:

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Bank

Drawee

Drawer

Both (B) & (C)

Drawee of bank draft is.

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Creditor

Debtor

Issuing bank

Paying bank

Promissory note means a:

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Promise to pay fixed amount on fixed date

Promise to pay currency notes on fixed date

Promise to pay goods on fixed date

All of the above

Drawee of the bank draft is a

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Bank which issues a draft

Bank on which the draft is drawn

Payee of draft

Sender of amount by draft

Bank draft onece issued can not be.

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Honored

Dishonored

sent

Paid

A bill which can be rediscounted from central bank

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Sight bill

Time bill

Both a and b

None of these

The main characteristics of bank draft.

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Written

On demand

Certain payment

All of these

Draft Drawn and paid in two differnet countries is called.

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Foreign draft

Demand draft

Local draft

None of these

Bank draft is always in the form of.

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Hand written

Printed

Stamp paper

None of these

Treasury bill means:

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Amount of government

Evidence of governments debt

Promise of government to pay

None of the above

Bills of exchange is

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An order to pay

A request to pay

A promise to pay

All of the above

Bills of exchange is a negotiable instrument which contains

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A written order

Conditional written order

Unconditional written order

None of the above

Credit instrument drawn by one bank on another bank is called

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Cheque

Bills of exchange

Bank draft

Treasury bill

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