The 'Bills Of Exchange Exam Quiz!' assesses understanding of financial instruments, specifically bills of exchange. It covers calculation of due dates, endorsement processes, and dishonour scenarios, essential for professionals in finance and accounting.
17th Nov
18th Nov
19th Nov
15th Nov
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19th July
18th July
17th July
16th July
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4.4.05
3.4.05
7.4.05
8.4.05
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X
Y
Z
None
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12,000
11,880
12,020
11,900
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8.10.05
9.10.05
10.10.05
11.10.05
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98,000
68,000
68,600
70,000
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1500
1600
1800
1450
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900
600
300
650
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19,900
20,000
20,100
19,800
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200
150
180
190
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200
300
240
380
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08.09.05
10.09.05
11.09.05
09.09.05
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410
420
440
400
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20,000
Nil
30,000
40 paise
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X
Z
To himself
None
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100
200
300
50
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1200
1800
1100
800
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12,500
9,437
11,687
13,650
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To finance actual purchase or sale of goods
To facilitate trade transmission
When both parties are in need of funds
At will
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2250
1800
2000
1100
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600
602
500
550
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24.3.05
22.3.05
26.3.05
21.3.05
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1,50,000
3,00,000
1,00,000
1,20,000
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Rs.20,200
Rs.30,300
Rs.19,800
Rs.19,000
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20,000
19,000
19,200
Nil
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Drawer
Drawee
Holder of bill
None
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49,000
49,980
49,686
50,500
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98,000
98,980
99,000
99,980
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1236
1854
3090
3000
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Drawer
Drawee
Payee
Promisor
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Kuntal
Ram
Shyam
Rahim
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28th Feb
1st Mar
2nd Mar
3rd Mar
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Mr.Rex's account
Bills Receivable account
Mr.Sheakar's account
Bills Payable account
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A bill cannot be endorsed more than two times
A bill is drawn by purchaser
A bill contains an unconditional promise to pay
Noting charges are borne by the drawee in the event of dishonour of bill
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2000
1960
1920
1900
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90
120
100
None
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3000
2880
2920
3010
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180
150
300
120
Bearer cheque
Promissory note
Bill of exchange
Crossed cheque
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120
100
140
160
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3200
2200
2400
2200
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A bill drawn in India,on a person resident outside India and made payable outside India
A bill drawn outside India,on a person resident outside India
A bill drawn outside India made payable in India
A bill drawn on a person resident in India made payable in India
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To pay fees to notary public
For "bill for Collection"
If the acceptor can prove that the bill was not properly presented to him for payment ,he can escape the liability hence for dishonour it is produced
For drawing a fresh bill
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24,250
25,000
16,167
32,333
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A will draw a bill on B
B will draw a bill on A
None
Third party will draw a bill on A
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At the time of drawing the bill
At the time of acceptance of the bill
At the time of dishonour of the bill
At the time of "bill for collection"
B/R is a negotiable instrument.
B/R must be accepted by the drawee
There can be three parties in respect of bills of exchange-drawer,drawee &payee
Oral bill of exchange is allllso valid
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Quiz Review Timeline (Updated): Oct 18, 2023 +
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