Bills of Exchange Class 11 MCQ | Accountancy Quiz for Class 11 and Other Competitive Exams

Bills of Exchange Class 11 MCQ: Check the below NCERT MCQ Questions for Accountancy Bills of Exchange Class 11 MCQ with Answers Pdf free download. Bills of Exchange Class 11 MCQ  Questions for Accountancy with Answers were prepared based on the latest exam pattern. We have provided Bills of Exchange Class 11 Questions with Answers to help students understand the concept very well.

Bills of Exchange Class 11 MCQ

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1. In the case of term bill, extra three days are given to the acceptor are called?
(a) Days of bill payable
(b) Days of bill receivable
(c) Days of grace
(d) Days of tenor

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2. When an acceptor refuses to pay the amount of bill to the holder of a bill on its maturity, is called?
(a) Honored bill
(b) Dishonored bill
(c) Retired bill
(d) Endorsed bill

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3. Which of the following is not true?
(a) There is no difference in appearance between trade and accommodation bill
(b) A bill of exchange must be accepted
(c) Drawee is the maker of a bill
(d) Accommodation bill is for an imaginary transaction

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4. If the drawer is in need of money and cannot wait till the due date and receive the money from the bank, is called?
(a) Endorsement of bill
(b) Discounting of bill
(c) Retirement of bill
(d) Dishonor of bill

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5. The purpose of the accommodation bill is _______.
(a) To finance actual purchase
(b) When both parties are in need of funds
(c) To facilitate trade transmission
(d) None of these

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By Team Learning Mantras