Question # 1

Bills of exchange has three:

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Owners

Parties

Shareholders

None of the above

On issuance of bank draft bank gets.

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Tax

Commission

Profit

Duty

A bill which can be rediscounted from central bank

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Sight bill

Time bill

Both a and b

None of these

Drawee of the bank draft is a

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Bank which issues a draft

Bank on which the draft is drawn

Payee of draft

Sender of amount by draft

Bills of exchange is a written order which is always

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Conditional

Unconditional

Partially conditional

All of the above

Draft drawn and pid in two different parties int he same country is called.

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Foreign draft

Demand draft

Local draft

None of these

The draft whihc is drawn and paid intwo different countries.

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Inland draft

Ordered draft

Foreign draft

Home draft

Promissory note means a:

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Promise to pay fixed amount on fixed date

Promise to pay currency notes on fixed date

Promise to pay goods on fixed date

All of the above

Bill in which drawer belonging to two different countries:

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Inland bill

Foreign bill

Accommodation bill

None of the above

A person in whose favour the rights of bill are transferred is called

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Drawer

Payee

Endorsee

All of the above

The bank branch on whic the draft is drawn is.

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Drawer

Payee

Drawee

None of these

Retirement of bill means

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Payment of bill before due date

Dishonoring of bill due to non-payment

Protesting of bill

Dishonoring of bill due to non-acceptance

An unconditional order of payment by one bank to another bank.

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Bill of exchage

Promissory note

Draft

None of these

Drawee of bank draft is.

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Creditor

Debtor

Issuing bank

Paying bank

Drawer and payee of inland promissory note belong to

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Same country

Different countries

Different cities

None of the above

Grace days are given to debtor for the patment of:

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Bills of exchange

Promissory note

Treasury bill

Cheque

The main content sof bank draft.

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bank branch

Payee

Date

All of these

Bill which is drawn without any trade transcation

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Sight bill

Time bill

Trade bill

Accommodation bill

Negotiable credit instrument do not include.

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Bank draft

Cheque

Postal orders

Treasury bill

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