Question # 1

Crossing of cheque is cancelled by

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Drawer

Drawee

Holder

All of the above

Grace days are given to debtors for payment.

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3 days

4 days

5 days

6 days

Bank or incomplete bill is called.

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Foreign bill

Local bill

Short bill

Dishonored bill

Endorsment of a cheque is always:

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Written

Oral

Written and registered

All of the above

Term dishonoring of cheque is used when

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Bank refuses to pay

Bank stops the payments

Bank delay the payments

Bank gives cheque to clearing house

The person is whose favor thebill is endorsed is.

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Endorsee

Endorser

Debtor

Acceptor

Honoured cheuqe is a cheque which is

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Accepted by drawee for payment

Accepted by payee

Accepted by endorsee

All of the above

Three grace days are given to debtors for payment.

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Bill of exchange

Promissory note

Bank draft

All of these

Person who recieves the amount of cheque from bank is called:

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Drawee

Payee

Endorsee

All of the above

If drawing of a cheque signs o its back for transferring the rights to another person is called

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Material change

Endorsement

Crossing

Acceptance

Term "or oreder" is written in order cheque after:

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Drawer's name

Payee's name

Customer's name

Endorsee's name

The bill of exchange who's tenor is less than three month is.

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Long bill of exchange

Foreign bill of exchange

Short bill of exchange

Sight bill of exchange

Safest cheque for making payment is:

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Crossed cheque

Order cheque

Bearer cheque

All of the above

Bill of exchange doesn't involved trade dealing.

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Trade bill

Accommodation bill

Both a and b

None of these

Payee has no give his identification to bank for receiving the amount of:

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Bearer cheque

Order cheque

Blank cheque

Crossedcheque

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