{"id":19353,"date":"2022-06-03T05:30:46","date_gmt":"2022-06-03T00:00:46","guid":{"rendered":"https:\/\/mcq-questions.com\/?p=19353"},"modified":"2022-05-21T12:00:18","modified_gmt":"2022-05-21T06:30:18","slug":"mcq-questions-for-class-11-accountancy-chapter-8","status":"publish","type":"post","link":"https:\/\/mcq-questions.com\/mcq-questions-for-class-11-accountancy-chapter-8\/","title":{"rendered":"MCQ Questions for Class 11 Accountancy Chapter 8 Bills of Exchange with Answers"},"content":{"rendered":"

Students who are searching for NCERT MCQ Questions for Class 11 Accountancy Chapter 8 Bills of Exchange with Answers Pdf free download are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 11 Accountancy with Answers<\/a>. You can also verify your answers from our provided Bills of Exchange Class 11 MCQs Questions with Answers. So, ace up your preparation with MCQ on Bills of Exchange Class 11 Objective Questions.<\/p>\n

Bills of Exchange Class 11 MCQs Questions with Answers<\/h2>\n

Choose the correct alternative in the following<\/span>
\nQuestion 1.
\nBills receivable account is a:
\n(a) Nominal account
\n(b) Personal account
\n(c) Real account<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) Real account<\/p>\n<\/details>\n

\n

Question 2.
\nAt the time of retirement of a bill, the acceptor debits:
\n(a) Bills payable’account
\n(b) Discount account
\n(c) Neither of two<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) Bills payable’account<\/p>\n<\/details>\n

\n

Question 3.
\nAt the time of endorsement of a bill, the drawee debits:
\n(a) Bills payable account
\n(b) Other party \u2019s account
\n(c) No entry<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) No entry<\/p>\n<\/details>\n

\n

Question 4.
\nWhen a bill is discharged, the acceptor debits:
\n(a) Creditor\u2019s account
\n(b) Cash account
\n(c) Bills payable account<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) Bills payable account<\/p>\n<\/details>\n

\n

Question 5.
\nWhen noting charges are paid by the bank at the time of dishonour of the bill and the drawee credits:
\n(a) Bank account
\n(b) Noting charges account
\n(c) Neither of the two<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) Neither of the two<\/p>\n<\/details>\n

\n

Question 6.
\nThe due date of bill dated 1st February, 2003 for a period of 2 months shall be:
\n(a) 4th April, 2003
\n(b) 5th April, 2003
\n(c) 4th May, 2003
\n(d) 2nd February, 1993<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) 4th April, 2003<\/p>\n<\/details>\n

\n

Question 7.
\nThe due date of bill dated 31st January, 1992 for a period of 1 month will be: (year 1992 is a leap year)
\n(a) 1 st October, 1993
\n(b) 31 st January, 1992
\n(c) 31st January, 1993
\n(d) 3rd March, 1992<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (d) 3rd March, 1992<\/p>\n<\/details>\n

\n

Question 8.
\nAccommodation bills are also termed as …………. bills.
\n(a) Drawee bills
\n(b) Kite bills
\n(c) Payee bills
\n(d) Drawer bills<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) Kite bills<\/p>\n<\/details>\n

\n

Question 9.
\nWhat shall be the due date of bill dated 21st July, 1993 for a period of 60 days when 22nd September, 1993 is declared as emergency holiday?
\n(a) 21 st September, 1993
\n(b) 22nd September, 1993
\n(c) 23rd September, 1993
\n(d) None of these<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) 23rd September, 1993<\/p>\n<\/details>\n

\n

Question 10.
\nB\/R stands for
\n(a) Bank Receivable Books
\n(b) Bank Receipt
\n(c) Bank Rebate
\n(d) All of them<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) Bank Receivable Books<\/p>\n<\/details>\n

\n

Fill in the blanks with suitable word(s)<\/span><\/p>\n

Question 1.
\nThe person to whom the amount mentioned in the promissory is payable is known as ………………….<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Promisee<\/p>\n<\/details>\n

\n

Question 2.
\nTransfer of a negotiable instrument to another person by signing on it, is known as ……………….<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Endorsement<\/p>\n<\/details>\n

\n

Question 3.
\nIn a promissory note, the person who makes the promise to pay is called as ……………..<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Promissor<\/p>\n<\/details>\n

\n

Question 4.
\nA person who endorses the promissory note in favour of another is known as ………………<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Endorser<\/p>\n<\/details>\n

\n

Question 5.
\nA bill of exchange is a …………….. instrument.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: negotiable<\/p>\n<\/details>\n

\n

Question 6.
\nA bill of exchange is drawn by the …………….. upon his ………………<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: drawer, drawee<\/p>\n<\/details>\n

\n

Question 7.
\nA promissory note is drawn by ………………. in favour of his …………………<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: debtor, creditor<\/p>\n<\/details>\n

\n

Question 8.
\nThere are ………………. parties to a bill of exchange.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: three<\/p>\n<\/details>\n

\n

Question 9.
\nThere are ………………… parties to a promissory note.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: two<\/p>\n<\/details>\n

\n

Question 10.
\nDrawer and ………………… cannot be the same parties in case of a bill of exchange.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: drawee<\/p>\n<\/details>\n

\n

Question 11.
\nBill of exchange in Indian language is called ……………..<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Hundi<\/p>\n<\/details>\n

\n

Question 12.
\n…………….. days of grace are added in terms of the bill to calculate the date of its ………………….<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Three, maturity<\/p>\n<\/details>\n

\n

Write \u2018True\u2019 or \u2018False\u2019 against each statement regarding a bill of exchange<\/span><\/p>\n

Question 1.
\nA bill of exchange must be accepted by the payee.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 2.
\nA bill of exchange is drawn by the creditor.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Question 3.
\nA bill of exchange is drawn for all cash transaction.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 4.
\nA bill payable on demand is called Time bill.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 5.
\nA person to whom payment is to be made in a bill or exchange is called payee.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Question 6.
\nA negotiable instrument does not require the signature of its maker.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 7.
\nThe hundi payable at sight is called Darshani hundi.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 8.
\nA negotiable instrument is not freely transferable.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 9.
\nStamping of promissory note is not mandatory.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 10.
\nThe time of payment of a-negotiable instrument need not be certain.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Use the above-provided NCERT MCQ Questions for Class 11 Accountancy Chapter 8 Bills of Exchange with Answers Pdf free download and get a good grip on the fundamentals. Need any support from our end during the preparation of CBSE Class 11 Accountancy Bills of Exchange MCQs Multiple Choice Questions with Answers then leave your comments below. We’ll revert back to you soon.<\/p>\n","protected":false},"excerpt":{"rendered":"

Students who are searching for NCERT MCQ Questions for Class 11 Accountancy Chapter 8 Bills of Exchange with Answers Pdf free download are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 11 Accountancy with Answers. You can also verify your answers from our provided Bills …<\/p>\n

MCQ Questions for Class 11 Accountancy Chapter 8 Bills of Exchange with Answers<\/span> Read More »<\/a><\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":""},"categories":[35],"tags":[],"yoast_head":"\nMCQ Questions for Class 11 Accountancy Chapter 8 Bills of Exchange with Answers - MCQ Questions<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mcq-questions.com\/mcq-questions-for-class-11-accountancy-chapter-8\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MCQ Questions for Class 11 Accountancy Chapter 8 Bills of Exchange with Answers - MCQ Questions\" \/>\n<meta property=\"og:description\" content=\"Students who are searching for NCERT MCQ Questions for Class 11 Accountancy Chapter 8 Bills of Exchange with Answers Pdf free download are compiled here to get good practice on all fundamentals. 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