CPT - Bills of Exchange Online Test

On 1.1.09 Mr. X draws on Mr. Y a bill for Rs. 20,000 payable after date for 3 months. The legal due date of the bill will be :


On 1.1.09 Mr. X draws on Mr. Y a bill for Rs. 20,000 payable after sight for 3 months.Mr. Y accepted the bill on 4.1.2009. The legal due date of the bill will be :


On 1.1.09 Mr. X draws on Mr. Y a bill for Rs. 20,000 payable after date for 3 months. 4th april was a sudden holiday,the legal due date of the bill will be :


On 1.1.09 Mr. X draws on Mr. Y a bill for Rs. 20,000 payable after sight for 3 months. Mr. Y accepted the bill on 4.1.2009. 7th april is a public holiday,the legal due date of the bill will be :


X draws a bill worth Rs. 5,000 on Y . X endorsed the bill to Z who in turns endorsed the bill to A. Payee in this case is


On 1.1.09 Mr. X draws on Mr. Y a bill for Rs. 20,000 payable after date for 30 days.Y accepted the bill on 4.1.2009.The legal due date of the bill will be :


On 1.1.08 Mr. X draws on Mr. Y a bill for Rs. 20,000 payable after sight for 90 days.The bill is accepted on 4.1.2008. The legal due date of the bill will be :


Under which circumstance drawer and payee is same person:


Which of the follwing is not a feature of a bill of exchange?


Which of the following is not a Foreign bill?


A promissorty note cannot be made payable to the bearer of the instrument?


A crossed cheque is a Negotiable instrument.


Which of the following statement is false:


Noting charges paid to Notary public is charged by :


Which of the following statement is false:


Indian currency is a


On 1.8.2009 X draws a bill on Y for Rs. 15000. At maturity the bill is returned dishonoured and noting charges paid by X Rs.50. Y request X to accept Rs. 4000 and for the balance draw a fresh bill for 2 months together with interest @12% p.a.

The amount of interest will be:


On 1.1.2009 X draws a bill on Y for Rs.10000 for 3 months. On 4.2.2009 X got the bill discounted @ 10% p.a. The amount of discount will be:


X sold goods to Y Rs. 50000 at 20% trade discount. Y immediately paid Rs. 20000. X will grant 10% discount on balance and Y request X to draw a bill for the balance, the amount of the bill will be:


Accomodation bill is prepared at will of both the parties.























Description:

Bills of Exchange
A bill of exchange or "draft" is a written order by the drawer to the drawee to pay money to the payee. A common type of bill of exchange is the cheque (check in American English), defined as a bill of exchange drawn on a banker and payable on demand. Bills of exchange are used primarily in international trade, and are written orders by one person to his bank to pay the bearer a specific sum on a specific date. Prior to the advent of paper currency, bills of exchange were a common means of exchange. They are not used as often today.


Bill of exchange, 1933
A bill of exchange is an unconditional order in writing addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at fixed or determinable future time a sum certain in money to order or to bearer. (Sec.126)

Discussion

Kush

i also want to know why noting charges are not added in question 17

913 days 19 hours 15 minutes ago

Hemmu

cpt-bills of exchange querry

q 17-- need to know why noting charges not added to amount recoverable. hence there is difference of 1 Re in interest.
q 12-- as per my knowledge general crossing dosent make chq non-negotiable
q 19 kindly help with the calculation of 18000 as am not able to arrive it on any count

1977 days 6 hours 8 minutes ago

Devaki

Pls update the Financial Management notes for icwa inter new syllabus 2012

2157 days 12 hours 28 minutes ago

kumar nirmal prasad
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