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Free MCQ’s Quiz on Class 11 Accountancy Chapter 8 – Bills of Exchange – Set 1

Free MCQ’s Quiz for Class 11 Accountancy Chapter 8 – Bills of Exchange with Answers is prepared based on the latest CBSE Exam Pattern for the Academic Session. Students can solve NCERT based Class 11th Accountancy – ‘Bills of Exchange’ Multiple Choice Questions with Answers to know their preparation level on the Success Roar Classes website.

Here, we have provided Free MCQ’s Quiz on Class 11 Accountancy Chapter 8 – Bills of Exchange. Bills of exchange usually have three parties: the drawee, who pays the sum, the payee, who receives it, and the drawer, who obligates the drawee to pay the payee. In international trade, a bill of exchange is used to assist importers and exporters in completing transactions.

To make you perfect in this topic – Bills of Exchange, we are here with a set of MCQs Quiz that will help you in brushing up the understanding of the concepts.

Free MCQ’s on Bills of Exchange

Each set of MCQ’s consists of 10 Questions and you can see the results immediately after submitting the Set.

Free MCQ’s on Bills of Exchange

Each set of MCQ’s consists of 10 Questions and you can see the results immediately after submitting the Set.

Results

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#1. A promissory note does not require:

#2. The promissory note should be signed by:

#3. A bill given to the customer is known as _____.

#4. What is the bill's due date if the due date falls on a holiday?

#5. Cancelling an old bill and drawing a new bill is called renewal of the bill. Is this true or false?

#6. A bill is created by a drawee. Is this true or false?

#7. Who are the people involved in a bill of exchange?

#8. When an acceptor refuses to pay the amount of a bill to the holder of the bill when it reaches maturity is known as a ____.

#9. The _____ paid the noting charges but these are recordable from the ____.

#10. The individual to whom payment is to be made in a bill of exchange is called ___.

finish

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