Bills of Exchange-Test 7

The debtor on whom a bill of exchange is drawn is called

A person who draws the bill

A person on whom the bill is drawn.

A person who endorses a bill

A person entitled to receive the amount of a Bill of Exchange.

A bill drawn in India and made payable in U.S.A.

What types of account is a Bill Payable A/c

What is the number of days added to the due date, in case of time or tenure bills ?

Making the payment of bill before its due date.

The fee charged for getting the bill noted after dishonour is called.

Encashment of bill with bank before its due date.

What is meant by ‘after sight’ ?

Which account is debited by a drawee of a bill of exchange on its endorsement ?

Endorsement of Bill means

How many parties are there in a Promissory notes ?

Which of these is not a essential requirement of a valid bill of exchange ?

Which of these is not an essential requirement of bill of exchange ?

On discounting of accommodation of bills, who bears discount charges.

A holder of a bill of exchange becomes a holder in due course if he

Which of these statements is not true about a Promissory note ?

Which of the following instrument cannot be made payable to bearer

When the invoice/bill is made payable on a specific date then the due date is

At the time of discharge of bill, the acceptor debits

Which of these is/are not an essential requirement of a valid bill of exchange ?

What is the accounting entry passed, in the Drawee’s books when the bill is discounted with the bank ?

Bills Receivable is a __________ account.

There are ______ parties in the case of a Bill of Exchange.

______ is not required for a promissory note.

Noting charges is to be borne by the _____ in case of dishonourment of the bill of exchange.

Before a bill is accepted, it is called _______.