(A) Makes the order
(B) Accepts it
(C) Takes the payment on due date
(D) Creditor
Category: Accounting Mcqs
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Which of these is not true about a promissory note?
(A) Unconditional promise
(B) Crossing
(C) Certainty of amount
(D) Payee to a certain person
Accommodation bills are generally for __.
(A) Genuine trade reasons
(B) For mutual financial accommodation
(C) To help augment money supply
(D) All the three
Which of these are not required in a promissory note?
(A) Acceptance
(B) Unconditional promise to pay
(C) Properly stamped
(D) Payment to be made legal currency
A foreign bill of exchange is generally drawn up in __.
(A) Triplicate
(B) Duplicate
(C) Single
(D) Quadruplicate
Which of these is not an essential feature of a bill of exchange?
(A) Unconditional
(B) Certainty of amount
(C) In writing
(D) Amount to be paid in foreign currency
Negotiable Instrument Act was enacted in__.
(A) 1981
(B) 1881
(C) 1871
(D) 2001
Noting charges are ultimately borne by__.
(A) Drawee
(B) Drawer
(C) Payee
(D) None