Question # 1

When cheque is cashed then its main foil is given to:

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Bank

Customer

Government

None of these

Cheque is always crossed by

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Drawer

Drawee

Holder

All of the above

Who can endorse the cheque:

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Holder of cheque

Drawer of cheque

Both A & B

None of these

Endorsment of a cheque is always:

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Written

Oral

Written and registered

All of the above

Crossing which contains the name of a particular bank is called

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Regular crossing

Irregular crossing

General crossing

Special crossing

Bank pays money at its counter for:

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Bearer cheque

Order cheque

Both (A) & (B)

Crossed cheque

Who did print the cheque in specific form for the first time or firstly:

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Imperial Bank

Bank of England

State Bank of Pakistan

None of the above

Cheque is a written order drawn on

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Endorsee

Bank

Customer

All of the above

Official empowered by theGovt. attest the negotiable instruments by his seal.

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Gazette officer

Notary public

Public attorney

None ofthese

The acceptance of bill without some condition is called.

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Dishonor acceptance

Documentary acceptance

Qualified acceptance

General acceptance

The person who accepts the bill of exchang is.

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Debtor

Drawer

Payee

None of these

The person who draws the bill is called.

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Debtor

Drawee

Drawer

Acceptor

A cheque which can be cashed by its holder

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Bearer

Order

Crossed

Plain

Who is called a drawee of cheque

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Payee

Bank

Customer

Endorsee

Bill of exchange doesn't involved trade dealing.

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Trade bill

Accommodation bill

Both a and b

None of these

The bill of exchange who's tenor is less than three month is.

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Long bill of exchange

Foreign bill of exchange

Short bill of exchange

Sight bill of exchange

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