Bills of Exchange MCQ Questions for Class 11 Accountancy Chapter 8 with Answers

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All questions answers in the last paragraph


MCQ Questions for Class 11 Accountancy with Answers: Financial Accounting


Q1. 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


Q2. At the time of retirement of a bill, the acceptor debits:

(A) Bills payable’account
(B) Discount account
(C) Neither of two
(D) None of above


Q3. What account will be credited when discounted bill is dishonoured?

(A) Drawee’s Account
(B) Drawer’s Account
(C) Bank Account
(D) Endorsee’s Account


Q4. 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


Q5. 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

(A) Kamal
(B) Rakesh
(C) Sahil
(D) Rohan


Q6. Noting charges are ultimately borne by –

(A) Drawee
(B) Drawer
(C) Payee
(D) Maker


Q7. 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


Q8. Which balance is shown by a B/R Book

(A) Credit
(B) None
(C) Both
(D) Debit


Q9. Fee paid in cash to Notary Public is charged by

(A) Holder of bill of exchange
(B) Drawee
(C) Drawer
(D) None


Q10. 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


Q11. B/R stands for

(A) Bank Receivable Books
(B) Bank Receipt
(C) Bank Rebate
(D) All of them


Q12. The Bills Receivable Book is a part of

(A) The Journal
(B) The Ledger
(C) The Profit
(D) None of the options


Q13. If the due date is public holiday what will be the due date of the bill

(A) Preceding day
(B) Following day
(C) The same day
(D) After two days


Q14. 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


Q15. 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


We hope the given NCERT MCQ Questions for Class 11 Accountancy PDF Free Download solution will definitely help you to achieve perfect score. If you have any queries related to CBSE Class 11 Accountancy MCQs Multiple Choice Questions with Answers, drop your questions below and will get back to you in no time.

All questions answers

QUESTIONS NO : ANSWERS :
1A
2A
3C
4A
5B
6A
7A
8D
9A
10A
11A
12A
13A
14A
15A

MCQ Questions for Class 11 Accountancy: Financial Accounting

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