A bill of exchange can not be
1. Endorsed
2.Accepted
3.Refused
4. Crossed
Posted Date:-2022-07-31 07:40:11
A bill of exchange is an?
1. A promise
2. Unconditional order
3. A request
4.A order
Posted Date:-2022-07-31 07:33:14
A bill of exchange renewed generally at the request of
1.Drawee
2.Bank
3. Drawer
4.None
Posted Date:-2022-07-31 07:39:45
A person who writes out the order to pay is called?
1.Drawer
2.Acceptor
3.Payee
4.Drawee
Posted Date:-2022-07-31 07:33:39
According to Negotiable Instrument Act, 1881, which of the following refers to “an instrument in writing (not being a bank note or a currency note) containing unconditional undertaking, signed by the maker to pay on demand or at a fixed or determinable future time a certain sum of money only to or to the order of a certain person, or to the bearer of the instrument�
1.Promissory note
2. Bearer debentures
3.Cheque
4.Bill of exchange
Posted Date:-2022-07-31 07:24:04
An alternative term used for accumulated depreciation expenses?
1.Provision for depreciation
2.Cumulative depreciation
3.Targeted depreciation
4.Depletion
Posted Date:-2022-07-31 07:08:18
Bill of Exchange has parties :
1.6
2.2
3.3
4.4
Posted Date:-2022-07-31 07:35:38
Charity of goods is-
1.Expenses
2. Loss
3.Profit
4.None of these.
Posted Date:-2022-07-31 07:47:47
Depreciation charged under diminishing method
1. Increase every year
2. Decrease every year
3.Increase in one year and decrease another year
4. Same every year
Posted Date:-2022-07-31 07:07:35
Depreciation helps in determining
1.Accurate level of profit
2. Increases the value of asset
3.Revenue generation
4. Increase the burden of tax
Posted Date:-2022-07-31 07:10:02
Direct Expenses are entered in:
1. Trading Account
2. profit & Loss Account
3.Balance sheet
4.None of these
Posted Date:-2022-07-31 07:41:33
Discounting Charges =
1.Amount of Bill Discounted × Rate × Unexpired Period
2.Amount of Bill Discounted × Rate / Unexpired Period
3.Amount of Bill Discounted × Rate + Unexpired Period
4.Amount of Bill Discounted + Rate × Unexpired Period
Posted Date:-2022-07-31 07:23:09
Drawing is deducted from:
1.Sales
2. Purchase
3.Returns outward
4. Capital
Posted Date:-2022-07-31 07:45:37
Due date of a bill of exchange drawn on 30th January, 2011 for one month will be :
1.5 Mar
2.3 Mar
3.29 Feb
4.4 Mar
Posted Date:-2022-07-31 07:37:30
Encashing the bill before the date of its maturity is called :
1.Dishonour of Bill
2.Retirement of Bill
3.Discounting of Bill
4. Endorsement of Bill
Posted Date:-2022-07-31 07:39:19
Fee paid in cash to Notary Public is charged by
1.Holder of bill of exchange
2.Drawee
3. Drawer
4.None
Posted Date:-2022-07-31 07:26:16
Goodwill is a-
1.Fixed Asset
2.Current Asset
3.Fictitious Asset
4.None of these
Posted Date:-2022-07-31 07:43:47
How many parties are involved in case of discounting of bill?
1. Two
2. Three
3. Four
4. Unlimited
Posted Date:-2022-07-31 07:35:11
If a person fails to pay his debt, such amount is considered as-
1. Bad debts
2.Bad debts recovered
3.Provision for Bad debt
4.None of these.
Posted Date:-2022-07-31 07:49:07
If the drawer is in need of money and cannot wait till due date and receive the money form bank is called?
1.Endorsement of bill
2. Discounting of bill
3.Retirement of bill
4.Dishonor of bill
Posted Date:-2022-07-31 07:31:23
If the due date is public holiday what will be the due date of the bill
1. Preceding day
2. Following day
3. The same day
4.After two days
Posted Date:-2022-07-31 07:24:41
In case if endorsement of bill the endorser debits?
1. Creditor account
2. Cash account
3.Bill receivable account
4. Bill payable account
Posted Date:-2022-07-31 07:31:53
In case of term bill extra three days are given to acceptor are called?
1. Days of bill payable
2.Days if bill receivable
3.Days of grace
4.Days of tenor
Posted Date:-2022-07-31 07:34:46
It is a period of time after which a bill becomes payable?
1. Grace days
2.Maturity
3.Usance
4.Tenor
Posted Date:-2022-07-31 07:30:53
Kamal draws a bill on Sahil for Rs.3000. Kamal endorsed it to Rohan. Rohan endorsed it to Rakesh. The payee of the bill will be
1. Kamal
2.Rakesh
3.Sahil
4. Rohan
Posted Date:-2022-07-31 07:26:46
Noting charges are paid by the ___ but these are recordable from the ____
1.Drawer, Drawer
2.Drawer, Drawee
3. Drawee, Drawer
4.Drawee, Drawee
Posted Date:-2022-07-31 07:27:14
On dishonor of a discounted bill who does the bank look for payment?
1.Drawer
2. Payee
3.Endorser
4.None
Posted Date:-2022-07-31 07:38:24
On dishonor of a discounted bill whom does the bank look for payment
1.Drawer
2.Drawee
3.Endorser
4.Payee
Posted Date:-2022-07-31 07:12:25
On whom the trade bill drawn
1.Seller
2. Creditor
3.Debtor
4.Owner
Posted Date:-2022-07-31 07:18:20
Outstanding Expenses are related to-
1.Current year
2.Next year
3. Last year
4. None of these.
Posted Date:-2022-07-31 07:46:23
Person to whom the bill is endorsed called ____
1.Endorsement
2. Endorser
3.Endorsee
4. None
Posted Date:-2022-07-31 07:27:44
Prepaid expenses are shown in-
1.Liability side
2. Asset side
3.Assets or Liability side
4. None of these.
Posted Date:-2022-07-31 07:47:05
Profit and loss Account discloses:
1.Gross profit
2.Gross profit or Gross loss
3.Gross profit or Gross loss
4. None of these
Posted Date:-2022-07-31 07:42:04
The act for signing by the drawer on the book of the instruments for the purpose of transfer
1. Acceptance of bill
2.Cheque
3.Endorsement
4.Bill
Posted Date:-2022-07-31 07:13:12
The object of non – trading concerns-
1.Social service
2.Profit earning
3. Both of these
4.None of the above.
Posted Date:-2022-07-31 07:50:30
The party which is entitled to receive the payment of bill of exchange is known as :
1.Drawer
2. Payee
3.Drawee
4.None of these
Posted Date:-2022-07-31 07:36:53
The party which is ordered to pay the amount of bill of exchange is called :
1.Drawee
2. Payee
3. Drawer
4. None of these
Posted Date:-2022-07-31 07:36:17
The party who is entitled to receive the cash of a bill receivable is called
1.Drawer
2.Drawee
3.Capitalist
4. Bank
Posted Date:-2022-07-31 07:18:56
The promissory note should be signed by
1. Payee
2. Drawee
3.Drawer
4.Promiser
Posted Date:-2022-07-31 07:37:57
The purpose of accommodation bill is :
1.To finance actual purchase
2.When both parties are in need of funds
3.To facilitate trade transmission
4. None
Posted Date:-2022-07-31 07:30:22
Trading Account discloses-
1. Gross profit
2.Net profit
3. Net loss
4. Gross profit or Gross loss
Posted Date:-2022-07-31 07:40:58
Under which depreciation method the amount of depreciation expenses remains same throughout the useful life of a fixed asset
1.Straight line method
2.Reducing balance method
3.Number of units produced method
4.Machine hours method
Posted Date:-2022-07-31 07:11:28
What are the parties to a bill of exchange
1. Drawee, Drawer, Payee
2. Drawee, Drawer, Debtor
3.Payer, Drawee, Drawer
4.Drawee, Drawer, Creditor
Posted Date:-2022-07-31 07:29:21
What is the rate of charging depreciation under diminishing method?
1.12% p.a.
2.15% p.a.
3.10% p.a.
4. Not fixed
Posted Date:-2022-07-31 07:10:36
When a drawer discounts the bill, he gets?
1.More than face value
2.Less than face value
3.Equal to face value
4. None of above
Posted Date:-2022-07-31 07:34:12
When an acceptor refuses to pay the amount of bill to the holder of bill on its maturity is called?
1.Honored bill
2.Dishonored bill
3.Retired bill
4.Endorsed bill
Posted Date:-2022-07-31 07:32:46
Which balance is shown by a B/R Book
1. Credit
2.None
3. Both
4.Debit
Posted Date:-2022-07-31 07:16:40
Which bill is not allowed 3 days of grace
1.Bill at the time of due date
2. Bill at sight
3. Bill after due date
4.Bill before due date
Posted Date:-2022-07-31 07:29:50
Which of the following is not a type of reserve
1.Provision for bad debt
2.General reserve
3.Workmen compensation fund
4. Retained earnings
Posted Date:-2022-07-31 07:09:09
While calculating the due date of the bill, how many days are added to the period of the bill :
1.4 days
2.3 days
3. 5 days
4.Neither of these
Posted Date:-2022-07-31 07:38:50