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Free Online MCQs Questions of Class – 11 Accountancy Chapter-18 Bill of Exchange

Free Online MCQs Questions of CBSE Class 11 Accountancy Chapter-18 Bill of Exchange with Answers. Free Online MCQs Questions for Class 11 Accountancy with Answers was Prepared Based on Latest Exam Pattern. Students can solve NCERT Class 11 Accountancy Bill of Exchange Multiple Choice Questions with Answers to know their preparation level on Success Roar Classes Website itself.

Bill of Exchange is a written order by one party to another party to pay any sum on demand or on a specified date. The bill of exchange helps in business by becoming an alternative mode of liquidity in place of cash. Get in depth knowledge about this topic by solving these MCQs.

Free Online MCQs Questions of Class -11 Accountancy

Chapter-18 Bill of Exchange with Answers

1. A bill of exchange has parties

A.    2

B.     3

C.     4

D.    6

2. The party which is ordered to pay the amount of bill of exchange is called

A.    Drawer

B.    Drawee

C.     Payee

D.    Endorsee

3. The party which is entitled to receive the payment of the bill is known as

A.    Drawer

B.     Drawee

C.     Bank

D.    Payee

4. A bill is drawn on 31th January due date after 1 month will be

A.    4 march

B.     3 march

C.     28 feb

D.    2 march

5.  Bill of exchange is a conditional order to pay the bill

A.    Within the month

B.     When the bank asks

C.     On due date

D.    When the drawer asks

6. When noting charges are paid by the bank at the time of dishonour of bill the drawee credits

A.    Drawer

B.     Payee

C.     Bank

D.    Endorsee

7.  When calculating the due date of the bill how many days are added as days of grace

A.    4

B.     3

C.     2

D.    0

8.  Encashing the bill before the due date is called from bank

A.    Endorsement

B.     Retirement

C.     Discounting

D.    Bills sent for collection

9. One who draws the bill is the

A.     Creditor

B.     Debtor

C.     Bank

D.     Chartered accountant

10. Noting charges are to be paid to

A.    Income tax department

B.     Court

C.     Notary

D.    Company secretary

MCQs Questions of CBSE Class 11 Accountancy Chapter-18 Bill of Exchange

Answer Key

  1. (a)      2. (b)     3. (d)     4. (b)     5. (c)     6. (a)     7. (b)     8. (c)      9. (a)      10. (c)

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