Bills of Exchange
Commerce ⇒ Accountancy
Bills of Exchange starts at 11 and continues till grade 12.
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See sample questions for grade 12
A bill is dishonoured. Who bears the noting charges?
A bill is drawn for Rs. 15,000, interest for renewal is Rs. 300, and part payment made is Rs. 5,000. What is the amount of the new bill?
A bill is drawn for Rs. 25,000, payable after 3 months. The bill is discounted at 12% p.a. Calculate the amount of discount.
A bill is drawn for Rs. 30,000, and the bank discounts it at 8% p.a. for 4 months before maturity. Calculate the amount received from the bank.
A bill is drawn on 10th January, 2024, for 3 months. What is the due date after adding days of grace?
A bill is drawn on 15th February, 2024, for 2 months. What is the maturity date including days of grace?
A bill is drawn on 28th February, 2024, for 2 months. What is the maturity date including days of grace?
A bill is drawn on 5th June, 2024, for 1 month. What is the maturity date including days of grace?
A Bill of Exchange is drawn for Rs. 10,000 on 1st March, 2024, payable after 2 months. What will be the maturity date, considering 3 days of grace?
A bill of Rs. 12,000 is endorsed to a creditor. On maturity, the bill is dishonoured and noting charges of Rs. 100 are paid. Who will pay the noting charges?
A bill of Rs. 20,000 is discounted with the bank at 10% p.a. for 2 months before maturity. Calculate the amount received from the bank.
Define a Bill of Exchange.
Explain the process of endorsement of a Bill of Exchange.
Explain the term 'Accommodation Bill'.
Explain the term 'Noting Charges'.
If a bill is dishonoured, who is primarily liable to pay?
What is meant by 'discounting of a bill'?
What is meant by 'Renewal of a Bill'?
What is the accounting treatment for noting charges paid by the holder of the bill?
What is the difference between a Bill of Exchange and a Promissory Note?
