Question

(1x6=6)
Q1. Choose the correct answer -
(1) A ball of exchange includes
A) An order to pay B) A request to pay o A promise to pay D) All the above
(2) What is the person known as who draus a bill of exchange
A) Drawer B) Payce Drawce D) None of the above
(3) What are the three additional days known as that a drawer gives to the drawee for payment
A Conditional days B) Additional days Days of grace D) Days of rebate
(4) When the bill is noted from the notary public, it is known as?
A) Noting B) Discounting C) Accepting D) None of the above
5) The act of transferring the bill from one person to another is called
A) Discounting B) Acceptance Endorsement D Retirement
(No. of parties in promissory note are:
A) Two B) Three C Four DiFive
a/c.
0.2 Fill in the blanks:
(1x5=5)
(1) The promissory note is signed by the
2) If Ram's acceptance which was endorsed in favour of Saleem is dishonoured, then the amount will be debited to
B) A hall of exchange drawn and accepted for mutual help is called
need not to be stamped.
5 A bill for Rs. 10.000 payable after three months is discounted with bank @ 12% p.a., the amount of discount will be
(3 marks)
Q3. Find the due date of the following:
1
29th May, 2017
31st March, 2017
21st July, 2017
IV 14th May, 2017
28th January, 2016
VI
31st January, 2016
(Emergency holiday 22-Sepl.)
4months
I month
60 days
90 days
1 month
1 month
Q.4. O Fen 6, 2017 A sold goods for * 1,00,000 to B. B paid 40% immediately on which A allowed a cash discount of 500.
For the balance A drew a bill on B payable after 30 days. Due date of bill was a public holiday and the bill was met as per the
provisions of Negotiable Instrument Act. Journalise the above transactions in the books of A.
(3 marks)
Q.5. 'A' purchases goods worth Rs 6.200 from 'B' and gives him his acceptance for Rs. 6,000 in full settlement. 'B' purchases
goods worth Rs. 10.000 from C and endorses the bill to him, paying the balance by cheque. On maturity the bill is dishonoured,
noting charges amounted to Rs. 100. Give the journal entries in the books of 'B'.
(3 marks)​

Answer 1

the suffocation of the weather extremes by climate known as climatic conditions