Bill of Exchange MCQ

Below Bill of Exchange quiz are Multiple Choice Questions (MCQs) type Quiz. These Bill of Exchange MCQ Questions helps you to refresh your Bill of Exchange, you can see the correct option by clicking on it. .
  • 1. When a drawer discounts the bill, he gets?

    • Less than face value
    • More than face value
    • Equal to face value
    • None of above
  • 2. A draws a bill on B for ₹ 30,000. A wants to endorse it to C in settlement of ₹35,000 at 2% discount with the help of B’s acceptance and balance in cash. How much cash A will pay to C?

    • (a) ₹ 4,300
    • (b) ₹4,000
    • (c) ₹ 4,100
    • (d) ₹ 5,000
  • 3. The Bills Receivable book is part of

    • Journal
    • Ledger
    • Trial balance
    • Balance sheet
  • 4. If Sohan’s acceptance which was discounted from bank is dishonoured then the amount will be credited in our books

    • a. Sohan
    • b. Bank
    • c. Bills Receivable account
    • d. None of the above
  • 5. If Mohan’s acceptance which was endorsed to Mrs Jivika is dishonoured then the amount will be Credited in our books

    • a. Mohan
    • b. Jivika
    • c. Bills Receivable account
    • d. None of the above
  • 6. Due date of a bill of exchange drawn on 30th January, 2011 for one month will be :

    • 5 March
    • 3 March
    • 29 Feb
    • 4 Mar