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. Noting charges are paid by the ______, but these are recordable from the ______.
(a) Drawer, Drawer
(b) Drawer, Drawee
(c) Drawee, Drawer
(d) Drawee, Drawee

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2. Fee paid in cash to Notary Public is charged by ______.
(a) Holder of a bill of exchange
(b) Drawee
(c) Drawer
(d) None

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3. According to the Negotiable Instrument Act, 1881, which of the following refers to ‘an instrument in writing (not being a banknote or a currency note) containing unconditional undertaking, signed by the maker to pay on demand or at a fixed or determinable future time a certain sum of money only to or to the order of a certain person, or to the bearer of the instrument’?
(a) Promissory note
(b) Bearer debentures
(c) Cheque
(d) Bill of exchange

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4. Discounting Charges = __________.
(a) Amount of Bill Discounted × Rate × Unexpired Period
(b) Amount of Bill Discounted × Rate / Unexpired Period
(c) Amount of Bill Discounted × Rate + Unexpired Period
(d) Amount of Bill Discounted + Rate × Unexpired Period

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5. The act for signing by the drawer on the book of the instruments for the purpose of the transfer is called ______.
(a) Acceptance of bill
(b) Cheque
(c) Endorsement
(d) Bill

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By Team Learning Mantras