CBSE Questions for Class 11 Commerce Accountancy Bill Of Exchange Quiz 13 - MCQExams.com

A draws a bill of exchange of $$Rs. 8,000$$ on B for $$4$$ months on $$15th\ April$$. What is the due date if on the due date a public holiday is suddenly declared?
  • $$19th\ August$$
  • $$18th\ August$$
  • $$17th\ August$$
  • $$15th\ August$$
A draws a bill of exchange of $$Rs. 4000$$ on B on the $$15th\ August$$ payable $$30$$ days after date. The due date of the bill will be _________.
  • $$17th\ September$$
  • $$16th\ September$$
  • $$15th\ September$$
  • $$18th\ September$$
At the time of endorsement of a bill, the drawee debits ___________.
  • bills payable account
  • other party's account
  • no account (no entry)
  • endorsee's account
A draws a bill on B for Rs. 50,000 for 3 months. At maturity, the bill returned dishonored , noting charges Rs.40 paise in a rupee is recovered from B's estate. The amount of deficiency to be recorded on insolvency in the books of B will be __________.
  • Rs. 20,200
  • Rs. 30,300
  • Rs. 19,800
  • Rs. 19,000
Ram draws on Mohan a bill for Rs. 60,000 on April 1, 2005 for two months. Mohan accepts the bill and sends it to Ram, who gets the bill discounted for Rs. 58,On the due date, Mohan could not the pay the money as promised. Which account will be credited by Ram to record the dishonour of the bill?
  • Mohan's A/c
  • Discount A/c
  • Bank A/c
  • No entry
At the time of retirement of a bill, the receiver debits ___________.
  • bills payable account
  • discount account
  • bills receivable account
  • none of the above
Which of the following is not included in 'Financial Statements' as per the Companies Act, 2013?
  • Balance Sheet
  • Notes to accounts
  • Cash Flow Statement
  • Funds Flow Statement
When noting charges are paid by the bank at the time of the dishonor of the bill, the drawee credits ____________.
  • bank account
  • noting charges account
  • cash a/c
  • none of the above
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