Class 11 Accountancy - Chapter Bill of Exchange NCERT Solutions | Write ‘True’ or ‘False

Welcome to the NCERT Solutions for Class 11th Accountancy - Chapter Bill of Exchange. This page offers a step-by-step solution to the specific question from Excercise ".$ex_no." , Question 1: write lsquo true rsquo or lsquo false rsquo ag....

Question 1

Write ‘True’ or ‘False’ against each statement regarding a bill of exchange:
(i) A bill of exchange must be accepted by the payee.
(ii) A bill of exchange is drawn by the creditor.
(iii) A bill of exchange is drawn for all cash transaction.
(iv) A bill payable on demand is called Time bill;
(v) The person to whom payment is to be made in a bill or exchange is called payee.
(vi) A negotiable instrument does not require the signature of its maker.
(vii) The hundi Payable at sight is called Darshani hundi.
(viii) A negotiable instrument is not freely transferable.
(ix) Stamping of promissory note is not mandatory.
(x) The time of payment of a negotiable instrument need not be certain.

Answer

(i) False
(ii) True
(iii) False
(iv) False
(v) True
(vi) False
(vii) True
(viii) False
(ix) False
(x) False

More Questions From Class 11 Accountancy - Chapter Bill of Exchange

Popular Questions of Class 11 Accountancy

Recently Viewed Questions of Class 11 Accountancy

Q:-

Read the following transactions and identify the cause of difference on the basis of time gap or errors made by business firm/bank. Put a sign (✓) for the correct cause.

Errors
made by
business/
bank

1.

2.

3.

4.

5.

Cheque issued to customer but not presented for payment.

Cheque amounting to Rs. 5,000 issued to
M/s. XYZ but recorded as Rs. 500 in the cash book.

Interest credited by the bank but yet not recorded by
the bank.

Cheque deposited into the bank but not yet collected
by the bank.

Bank charges debited to firm's current account by the
bank.