Question # 1

A cheque which cannot be cashed at bank's counter

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Bearer

Order

Crossed

None of the above

Bank pays money at its counter for:

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Bearer cheque

Order cheque

Both (A) & (B)

Crossed cheque

Inland sight bill of exchange is usually used in.

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Domestic trade

Inter port trade

Foreign trade

None of these

Safest cheque for making payment is:

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Crossed cheque

Order cheque

Bearer cheque

All of the above

Three grace days are given to debtors for payment.

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Bill of exchange

Promissory note

Bank draft

All of these

The person in whose favour the rights of recieving the amount of cheque transferred:

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Endorser

Payee

Endorsee

All of the above

Person who recieves the amount of cheque from bank is called:

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Drawee

Payee

Endorsee

All of the above

On every cheque bank gets

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Profit

Commission

Tax

Duty

Term dishonoring of cheque is used when

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Bank refuses to pay

Bank stops the payments

Bank delay the payments

Bank gives cheque to clearing house

The person who accepts the bill of exchang is.

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Debtor

Drawer

Payee

None of these

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

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Sight bill of exchange

Foreign bill exchnage

Long bill exchange

Short billof exchange

The person who will receive the amount of bill of exchange is.

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Debtor

Payee

Drawee

Acceptor

The types of local or home trade are.

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Regail trade

Wholescale trade

Interport

Both a and b

Drawer and drawee belongs to same country.

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Domestic bill

Foregin bill

Trade bill

Accommodation bill

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