Parties of BOE

Q.

Write the process of preparing ledger from a journal.

Q.

The party which is entitled to receive the payment of bill of exchange is known as :

1. Drawer

2. Payee

3. Drawee

4. None of the above

Q.

The party which is ordered to pay the amount of bill of exchange is called :

1. Drawer

2. Payee

3. None of the above

4. Drawee

Q.

The number of parties involved in bills of exchange are:

1. 1

2. 3

3. 4

4. 2

Q.

The person who prepares the bill is called as ______

1. Drawer

2. Endorsee

3. Drawee

4. Payee

Q.

What if the promissory note is not paid?

Q.

The person to whom bill is endorsed is called as ________

1. Endorser

2. Drawee

3. Endorsee

4. Drawer

Q. The party who is ordered to pay the amount of bill of exchange is called as .

1. drawer
2. drawee
3. payer
4. payee

Q.

The parties to a bill of exchange are ?

1. Drawer, Drawee & Maker

2. Drawer, Drawee & Payee.

3. Payee, Drawee & Maker

4. Drawer. Maker & Payee

Q.

In bill of exchange, drawer is ?

1. The person who accepts the bill

2. The person who draws the bill

3. The person in whose favour the bil] is

4. The person to whom the amount is paid

Q. The is entitled to receive the payment of bill of exchange.

1. drawer
2. drawee
3. payer
4. payee

Q.

Mohan sold goods to Suraj for Rs. 20000 and draw a bill upon Suraj for the same amount which is payable after 4 months. Mohan retain the bill for 4 months .Who is the drawee?

1. Mohan

2. Both

3. None

4. Suraj

Q.

Who Keeps the Bill of Exchange?

Q. Anil, brother of Sunil sold goods to Suraj for Rs.10, 000 and drew a bill upon him payable after 3 months. In this case, the drawee is/ are .

1. Anil
2. Sunil
3. Suraj
4. Anil and Sunil

Q. A bill of exchange is drawn by the drawer upon his drawee.

1. True
2. False

Q.

A draws bill upon B. B accepts the bill payable after two months. A discounted the bill with Bank. Who will be the payee in this scenario?

1. None of these

2. A

3. B

4. Bank

Q.

Mohan drew a bill upon Suraj for Rs 10, 000 who purchased goods on credit. Who is drawee?

1. Mohan

2. Suraj

3. Both A & B

4. None of these

Q. Drawer and ___________ can not be the same parties in case of a bill of exchange.

Q.

What do you understand by relationship type? How is it different from relationship instance and relatioship set?

Q.

X draws a bill on Y for Rs. 3, 000. X endorsed this bill to Z. Who is the drawee ?

1. X

2. None of the above

3. Y

4. Z

Q. A person who accepts the bill is called ______.

1. Drawer
2. Payee
3. Acceptor
4. Creditor

Q. A person who draws a bill of exchange is called as _______.

1. Drawee
2. Drawer
3. Purchaser
4. Seller

Q. A promissory note is drawn by __________ in favour of his ___________.

Q. Payee is the person named in the bill of exchange to whom the amount is payable.

1. True
2. False

Q. Answer in one sentence only :

What is subsidiary book?