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. What are the parties to a bill of exchange ?
(a) Drawee, Drawer, Payee
(b) Drawee, Drawer, Debtor
(c) Payer, Drawee, Drawer
(d) Drawee, Drawer, Creditor

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2. Which bill is doesn’t allow 3 days of grace ?
(a) Bill at the time of due date
(b) Bill at sight
(c) Bill after due date
(d) Bill before due date

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3. The purpose of 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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4. Bill of Exchange has how many parties ?
(a) 6
(b) 2
(c) 3
(d) 4

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5. 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 maker of a bill
(d) Accommodation bill is for an imaginary transaction

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By Team Learning Mantras