| 1 |
When an acceptor refuses to pay the amount of bill to the holder on its maturity date it is called |
- A. Honoured Bill
- B. Retired Bill
- C. Dishonoured Bill
- D. Endorsed Bill
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| 2 |
At the time of drawing a bill the drawer credits: |
- A. Debtors account
- B. Creditors account
- C. bill receivable account
- D. Suppliers account
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| 3 |
Any activity undertaken for the purpose of earning profit is called: |
- A. Performance
- B. Dealing
- C. Business
- D. Duties
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| 4 |
Real accounts are related to: |
- A. Assets
- B. Expenses, losses and incomes
- C. Customers, creditors
- D. Incomes
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| 5 |
Bank for collection is a |
- A. Permanent Account
- B. Fixed Account
- C. Current Account
- D. Temporary Account
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| 6 |
Interest on renewal of a bill is the expense of |
- A. Drawer
- B. Drawee
- C. Holder
- D. Endorsee
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| 7 |
When is a drawee is declared insolvent which account is to be debited in the books of drawer |
- A. Deficiency a/c
- B. Bad Debts a/c
- C. Solvency a/c
- D. None of these
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| 8 |
When a Bill is dishonoured, the holder of the bill goes to an official called |
- A. Inspector
- B. Notary Public
- C. Drawer
- D. Manager
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| 9 |
The time after which the bill is to be paid |
- A. Grace Days
- B. Tenor
- C. Due Date
- D. Extra Days
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| 10 |
Accommodation bills are drawn accepted and endorsed |
- A. Without any Consideration
- B. for some Consideration
- C. for Quarter Consideration
- D. none of the above
|