MCQsDrive | MCQsDrive

Management Sciences 5307 MCQs [All-Courses]

Management Sciences focuses on the planning, organizing, leading, and controlling of resources to achieve organizational goals.This subject is highly important for competitive exams, academic study, and professional careers in the business and public sectors.

X draws a Bill of Exchange on Y for 10,000 on 1-1-2013 for 3 months. The due date of the bill will be_________?

A 4-4-2013

B 3-4-2013

C 1-4-2013

D 31-3-2013

Review Detailed Answer

Correct Answer: 4-4-2013

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

Review Detailed Answer

Correct Answer: Acceptance

A foreign bill of exchange is generally drawn up in___________?

A Triplicate

B Duplicate

C Single

D Quadruplicate

Review Detailed Answer

Correct Answer: Triplicate

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

Review Detailed Answer

Correct Answer: Amount to be paid in foreign currency

Negotiable Instrument Act was enacted in_________?

A 1981

B 1881

C 1871

D 2001

Review Detailed Answer

Correct Answer: 1881

How many parties are generally found in a Bill of Exchange?

A 4

B 2

C 3

D 5

Review Detailed Answer

Correct Answer: 3

Which of the following is not a feature of a promissory note?

A It must be in writing

B It contains an unconditional promise to pay

C It is payable to the bearer

D It must be signed by the maker

Review Detailed Answer

Correct Answer: It is payable to the bearer

Under which of the following situations, is journal entry not passed in the books of the drawer?

A When a discounted bill is honoured by the drawee on the due date

B When a bill is sent to the bank for collection

C When a bill is renewed at the request of the drawee

D When a debtor accepts a bill drawn by the drawer

Review Detailed Answer

Correct Answer: When a discounted bill is honoured by the drawee on the due date

The drawer of a trade bill passes relevant entries with regard to the transaction involved in it. But, in case of an accommodation bill, he passes an entry in addition to the usual entries. The additional entry so passed is with respect to

A Discounting of the bill with the bank

B Payment of the bill on due date

C Remitting or receiving the amount

D Sending the bill to bank for collection

Review Detailed Answer

Correct Answer: Remitting or receiving the amount

The noting charges levied on dishonour of an endorsed bill by the Notary Public are to be borne by

A The drawer of the bill

B The person responsible for dishonour

C The holder of the bill

D The endorser of the bill

Review Detailed Answer

Correct Answer: The person responsible for dishonour

Showing 4111 to 4120 of 5307 results

Contact Info

Management Sciences 5307 MCQs [All-Courses]

All Topics 5307

All Topics 5307

X draws a Bill of Exchange on Y for 10,000 on 1-1-2013 for 3 months. The due date of the bill will be_________?

Which of these are not required in a promissory note?

A foreign bill of exchange is generally drawn up in___________?

Which of these is not an essential feature of a bill of exchange?

Negotiable Instrument Act was enacted in_________?

How many parties are generally found in a Bill of Exchange?

Which of the following is not a feature of a promissory note?

Under which of the following situations, is journal entry not passed in the books of the drawer?

The drawer of a trade bill passes relevant entries with regard to the transaction involved in it. But, in case of an accommodation bill, he passes an entry in addition to the usual entries. The additional entry so passed is with respect to

The noting charges levied on dishonour of an endorsed bill by the Notary Public are to be borne by