Ready to take the quiz?
Test takers will enter name and email before starting.
Preview questions
1. What is a Bill of Exchange?
A written order to pay money · A type of loan agreement · A receipt for goods sold · A bank statement
2. Who are the parties involved in a Bill of Exchange?
Drawer, Drawee, Payee · Lender, Borrower, Guarantor · Debtor, Creditor, Bank · Buyer, Seller, Broker
3. What is the term for the person who draws the Bill of Exchange?
Drawee · Payee · Drawer · Endorser
4. What is the maturity date of a Bill of Exchange?
The date it is drawn · The date it is accepted · The date it is payable · The date it is endorsed
5. Which of the following is NOT a characteristic of a Bill of Exchange?
It must be in writing · It must be signed by the drawer · It can be verbal · It must contain an unconditional order to pay
Related quizzes
View all AccountancyAccountancy Part II - Depreciation, Provisions and Reserves Quiz
Depreciation, Provisions and Reserves
Accountancy Quiz - Financial Statements II
Financial Statements - II
Accountancy Part I - Theory Base of Accounting Quiz
Theory Base of Accounting
Accountancy - Introduction to Accounting
Introduction to Accounting
Applications of Computers in Accounting - Class XI Quiz
Applications of Computers in Accounting
Accountancy Part I - Theory Base of Accounting Quiz
Theory Base of Accounting