Bills Of Exchange Exam Quiz!

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Questions: 173 | Attempts: 901 | Updated: Oct 18, 2023

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Oct 18, 2023

Quiz Edited by
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Aug 11, 2011

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Bills Of Exchange Exam Quiz!

On 1.1.05 X draws a bill on Y for Rs.20,000 for 3 months. Due date of the bill will be:

On 15.8.05 X draws a bill on Y for 3 months for Rs.20,000. 18th Nov was a sudden holiday, due date of the bill will be :

On 16.6.05 X draws a bill on Y for Rs.25,000 for 30 days. 19th July is a public holiday,due date of the bill be:

X draws a bill on Y for Rs.30,000 on1.1.05.X accepts the same on 4.1.05. Period of the bill 3 months after date. What will be the due date of the bill:

X draws a bill on Y.X endorsed the bill to Z.the payee of the bill will be:

A bill of 12,000 was discounted by A with the banker for 11,880. At maturity the bill returned dishonoured,noting charges Rs.20. How much amount will be the bank deduct from A's bank balance at the time of such dishonour ?

X draws a bill on Y for Rs.20,000 on 1.7.05 for 3 months after sight, date of acceptance is 6.7.05. Due date of the bill will be :

X sold goods to Y for Rs.1,00,000.Y paid cash Rs. 30,000. X will grant 2% discount on balance and Y requests X to draw a bill for balance, the amount of bill will be:

On 1.1.05 X draws a bill on Y for Rs.50,000 for 3 months. X got the bill discounted on 4.1.05 at 12% per annum. The amount of discount on bill will be:

Mr. A draws a bill on Mr.Y for Rs.30,000 on 1.1.05 for 3 months. On 4.2.06 X got the bill discounted at 12% per annum. The amount of discount will be

X draws a bill on Y for Rs.20,000 for 3 months on 1.1.05. The bill is discounted with banker at a charge of Rs.100. at maturity the bill return dishonoured. In the books of X,for dishonour the bank account will be credited by:

On 1.1.05 X draws a bill on Y for Rs.10,000. At maturity Y request X to renew the bill for 2 months at 12% p.a. interest. Amount of interest will be:

On 1.1.05 X draws a bill on Y for Rs.15,000 for 3 months. At maturity Y request X to accept Rs.5000 in cash and for balance to draw a fresh bill for 2 months together with 12% p.a. interest. The amount of interest will be:

On 1.8.05 X draws a bill on Y for 30 days after sight, the date of acceptance is 08.08.0. The due date date of the bill will be:

On 1.6.05 X draws a bill on Y for Rs.25,000. At maturity Y request X to accept Rs.5000 in cash and noting charges incurred Rs.100 and for the balance X draws a bill on Y for 2 months at 12 % p.a. Interest amount will be:

On 1.1.05 X draws a bill on Y for Rs.50,000. At maturity,the bill returned dishonoured as Y become insolvent and 40 paise per rupee is recovered from his estate. The amount recovered is:

X draws a bill on Y for Rs.3,000. X endorsed to Z. Y will pay the amount of the bill to:

On 1.1.05 X draws a bill on Y for 3 months for Rs.10,000. On 4.3.05, Y pays the bill amount to X at 12% discount ,the amount of discount will be :

The purpose of accommodation bill is:

M sold goods worth of Rs.50,000 to N. On 1.10.05,N immediately accepted a three month bill. On due date N requested that the bill be renewed for fresh period of 3 months. N agrees to pay interest @ 18 % p.a. in cash. How much interest to be paid in cash by N?

On 1.1.05 X draws a bill on Y for Rs.30,000. At maturity Y request X to draw a fresh bill for 2 months together with 12 % p.a. interest. Noting charges Rs.100. The amount of interest will be:

On 18.02.05 A draw a bill on B for Rs.10,000. B accepted the bill on 21.02.05. The bill is drawn for 30 days after sight. The due date of the bill will be:

X sold goods to Y for Rs.3,00,000. Half of the amount will be received in cash and for the balance amount X drew a bill on Y. What is the Bill amount?

A draws a bill on B for Rs.50,000 for 3 months. At maturity ,the bill returned dishonoured, noting charges Rs.500. 40 paise in a rupee is recovered from B's estate. The amount of deficiency to be recorded on insolvency in B's books will be :

A sold goods to B for Rs.20,000. A will grant 5% discount to B. B requested A to draw a bill. The amount of bills will be :

Fees paid in cash to Notary Public is charged by:

A draws a bill on B for Rs.50,000. A endorsed it to C in full settlement of Rs.50,500. Noting charges of Rs.200 as the bill returned dishonoured. A want to pay the amount to C at 2% discount.The amount to be paid by A to C will be:

A draws a bill on B for Rs.1,00,000. A endorsed the bill to C. The bill return dishonoured. Noting Charges Rs.1000. B requests A to accept the amount at 2% discount by a single cheque. The cheque amount will be :

The promissory note should be signed by :

Kuntal draws a bill on Shyam for Rs.3,000. Kuntal endorsed it to Ram. Ram endorsed it to Rahim. The payee of the bill will be:

A bill is drawn on 29th Jan'06 for one month after date. The date of acceptance is 2nd Feb'06. The bill is drawn on one month after date basis. The due date of the bill will be :

Mr.Rex accepted a bill drawn by Mr.Robin. Mr.Robin endorsed the bill to Mr.Sekhar. On the due date, the bill is dishonoured as Mr. Rex became insolvent. To record the dishonour of the bill in the books of Mr.Robin, which of the following accounts should be credited ?

Which of the following statements is true ?

For mutual accommodation of A and B, B accepted a bill drawn on him by A for 2 months Rs.6000. The said bill is discounted at 12% p.a. and remitted 1/3 rd of the proceeds to B. The amount remitted by A to B will be:

Lara draws an accommodation bill on Sachin. The proceeds are to be borne between Sachin and Lara in the ratio of 3:1.The amount of bill is Rs.6000, discounting charges Rs.120. Discount borne by sachin will be :

A draws a bill on B for Rs.4500 for mutual accomidation in the ratio 2:1. A got it discounted at 4230 and remitted 1/3 rd of the proceeds to B. At the time of maturity, how much amount A should remit to B such that B can pay off the bill.

Which of the following instrument is not a negotiable instrument :

On 1.1.06 Vikas draws a bill of exchange for Rs.10,000 due for payment after 3 months on Ekta.Ekta accepts to this bill of exchange .On 4.3.06 ,Ekta retires the bill of exchange at a discount of 12 % p.a. which of the discount is correct for premature payment in the books of Ekta ?

Which of the following is not a foreign bill :

Which of the following is correct for presenting bill to notary public

A drew a bill on B for Rs.50,000 for 3 months .Proceeds are to be shared equally.A got the bill discounted at 12 %p.a. and remit required proceeds to B.the amount of such remittance will be :

From the following information,find out who can draw the bill if Mr.A sold goods to B :

When the bill is to be produced to notary public :

Which of the following statement is false:

Under which circumstances drawyer and payee is same person: