CBSE MCQ Class 11 Accountancy Chapter 8 Bills of Exchange

MCQ Class 11 Accountancy Chapter 8 Bills of Exchange : MCQ Questions for Class 11 Accountancy with Answers PDF Free Download prepared here according to the latest CBSE RBSE and Other State Board syllabus and NCERT curriculum.

MCQ Class 11 Accountancy Chapter 8 Wise with answer and Free PDF Download

MCQ Class 11 Accountancy Chapter 8 Bills of Exchange

Q1. At the time of retirement of a bill, the acceptor debits:

(i) Bills payable’account
(ii) Discount account
(iii) Neither of two
(iv) None of above

(i) Bills payable’account

Q2. Three days are added for ascertaining the date of maturity. These are known as days of-

(i) Grace
(ii) Maturity
(iii) Payment
(iv) None of the options

(i) Grace

Q3. Noting charges are ultimately borne by –

(i) Drawee
(ii) Drawer
(iii) Payee
(iv) Maker

(i) Drawee

Q4. Which balance is shown by a B/R Book

(i) Credit
(ii) None
(iii) Both
(iv) Debit

(iv) Debit

Q5. The due date of bill dated 1st February, 2003 for a period of 2 months shall be:

(i) 4th April, 2003
(ii) 5th April, 2003
(iii) 4th May, 2003
(iv) 2nd February, 1993

(i) 4th April, 2003

Q6. The Bills Receivable Book is a part of

(i) The Journal
(ii) The Ledger
(iii) The Profit
(iv) None of the options

(i) The Journal

Q7. Refusal by the acceptor to pay the bill on the maturity date is called –

(i) Dishonor of bill
(ii) Retirement of bill
(iii) Rebate on bill
(iv) Discounting of bill

(i) Dishonor of bill

Q8. The party who is entitled to receive the cash of a bill receivable is called

(i) Drawer
(ii) Drawee
(iii) Capitalist
(iv) Bank

(i) Drawer

Q9. Accommodation bills are also termed as ………bills.

(i) Drawee bills
(ii) Kite bills
(iii) Payee bills
(iv) Drawer bills

(ii) Kite bills

Q10. A bill accepted and given to a creditor is called

(i) Bill Payable
(ii) Bill Receivable
(iii) Trade bill
(iv) Repair bill

(i) Bill Payable

Q11. Three days are added for ascertaining the date of maturity. These are known as days of-

(i) Grace
(ii) Maturity
(iii) Payment
(iv) None of the options

(i) Grace

Q12. If the due date is public holiday what will be the due date of the bill

(i) Preceding day
(ii) Following day
(iii) The same day
(iv) After two days

(i) Preceding day

Q13. B/R stands for

(i) Bank Receivable Books
(ii) Bank Receipt
(iii) Bank Rebate
(iv) All of them

(i) Bank Receivable Books

Q14. Fee paid in cash to Notary Public is charged by

(i) Holder of bill of exchange
(ii) Drawee
(iii) Drawer
(iv) None

(i) Holder of bill of exchange

Q15. A four months bill drawn on 1st January, 2008 will mature for payment on –

(i) 4th May, 2008
(ii) 5th May, 2008
(iii) 3rd May, 2008
(iv) 6th May, 2008

(i) 4th May, 2008

Q16. 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

(i) Kamal
(ii) Rakesh
(iii) Sahil
(iv) Rohan

(ii) Rakesh

Q17. What account will be credited when discounted bill is dishonoured?

(i) Drawee’s Account
(ii) Drawer’s Account
(iii) Bank Account
(iv) Endorsee’s Account

(iii) Bank Account

Q18. The Rebate on a bill shows that the bill –

(i) Has been paid before the date of maturity
(ii) Has been paid after the date of maturity
(iii) Has been dishonored
(iv) None of the options

(i) Has been paid before the date of maturity

Q1. The due date of bill dated 31st January, 1992 for a period of 1 month will be: (year 1992 is a leap year)

(a) 1 st October, 1993
(b) 31 st January, 1992
(c) 31st January, 1993
(d) 3rd March, 1992

(d) 3rd March, 1992


Q2. Noting charges are ultimately borne by –

a) Drawee
b) Drawer
c) Payee
d) Maker

a) Drawee


Q3. A Promissory note _ the acceptance

a) Does not require
b) Requires
c) Makes
d) Arranges

a) Does not require


Q4. B has accepted the bill drawn on him by A. Which of the following statements is correct?

a) A can endorse the bill, B cannot endorse the bill
b) A can endorse the bill
c) B cannot endorse the bill
d) B can endorse the bill

a) A can endorse the bill, B cannot endorse the bill


Q5. At the time of renewal of a bill, _ account is debited in the books of the drawee.

a) Interest
b) Discount
c) Rebate
d) None of the options

a) Interest


Q6. A bill of Rs. 5,000 is discounted with the banker for RS. 4,750. The bill is dishonored at maturity. The drawee pays 60% of his acceptance. What is the amount of bad debts?

a) Rs. 2,000
b) Rs. 2100
c) Rs. 1900
d) Rs. 1800

a) Rs. 2,000


Q7. Refusal by the acceptor to pay the bill on the maturity date is called –

a) Dishonor of bill
b) Retirement of bill
c) Rebate on bill
d) Discounting of bill

a) Dishonor of bill


Q8. Find the due date of a bill of exchange dated 9th December, 2007, payable after 45 days.

a) 25th January, 2008
b) 24th January, 2008
c) 26th January, 2008
d) 27th January, 20008

a) 25th January, 2008


Q9 The party which is ordered to pay the amount is known as –

a) Drawee
b) Payee
c) Drawer
d) None of the options

a) Drawee


Q10. Three days are added for ascertaining the date of maturity. These are known as days of-

a) Grace
b) Maturity
c) Payment
d) None of the options

a) Grace


Q11. A bill of exchange cannot be –

a) Crossed
b) Endorsed
c) Accepted
d) None of the options

a) Crossed


Q12. If Rams acceptance which was endorsed by us in favor of Saleem is dishonored, then the amount will be debited in our books to –

a) Ram
b) Saleem
c) Bills Receivable
d) None of the options

a) Ram


Q13. A four months bill drawn on 1st January, 2008 will mature for payment on –

a) 4th May, 2008
b) 5th May, 2008
c) 3rd May, 2008
d) 6th May, 2008

a) 4th May, 2008


Q14. The Bills Receivable Book is a part of

a) The Journal
b) The Ledger
c) The Profit
d) None of the options

a) The Journal


Q15. The Rebate on a bill shows that the bill –

a) Has been paid before the date of maturity
b) Has been paid after the date of maturity
c) Has been dishonored
d) None of the options

a) Has been paid before the date of maturity


Q16. Which balance is shown by a B/R Book

(a) Credit
(b) None
(c) Both
(d) Debit

(d) Debit


Q17. On whom the trade bill drawn

(a) Seller
(b) Creditor
(c) Debtor
(d) Owner

(c) Debtor


Q18. The party who is entitled to receive the cash of a bill receivable is called

(a) Drawer
(b) Drawee
(c) Capitalist
(d) Bank

(a) Drawer


Q19. The due date of bill dated 1st February, 2003 for a period of 2 months shall be:

(a) 4th April, 2003
(b) 5th April, 2003
(c) 4th May, 2003
(d) 2nd February, 1993

(a) 4th April, 2003


Q20. The due date of bill dated 31st January, 1992 for a period of 1 month will be: (year 1992 is a leap year)

(a) 1 st October, 1993
(b) 31 st January, 1992
(c) 31st January, 1993
(d) 3rd March, 1992

(d) 3rd March, 1992

MCQ Questions for Class 11 Accountancy with Answers Chapter Wise PDF Download

MCQ Questions for Class 11 Accountancy: Financial Accounting

  1. MCQ Class 11 Accountancy Chapter 1 Introduction to Accounting
  2. MCQ Class 11 Accountancy Chapter 2 Theory Base of Accounting
  3. MCQ Class 11 Accountancy Chapter 3 Recording of Transactions 1
  4. MCQ Class 11 Accountancy Chapter 4 Recording of Transactions 2
  5. MCQ Class 11 Accountancy Chapter 5 Bank Reconciliation Statement
  6. MCQ Class 11 Accountancy Chapter 6 Trial Balance and Rectification of Errors
  7. MCQ Class 11 Accountancy Chapter 7 Depreciation, Provisions and Reserves
  8. MCQ Class 11 Accountancy Chapter 8 Bills of Exchange
  9. MCQ Class 11 Accountancy Chapter 9 Financial Statements 1
  10. MCQ Class 11 Accountancy Chapter 10 Financial Statements 2
  11. MCQ Class 11 Accountancy Chapter 11 Accounts from Incomplete Records
  12. MCQ Class 11 Accountancy Chapter 12 Applications of Computers in Accounting
  13. MCQ Class 11 Accountancy Chapter 13 Computerised Accounting System
  14. MCQ Class 11 Accountancy Chapter 14 Structuring Database for Accounting
  15. MCQ Class 11 Accountancy Chapter 15 Accounting System Using Database Management System


PDF Free Download for Telegram

Ads Blocker Image Powered by Code Help Pro
Ads Blocker Detected!!!

We have detected that you are using extensions to block ads. Please support us by disabling these ads blocker.

I Have Disabled the AdBlock Reload Now