Class 11 Finance MCQ Chapter 15 Endorsements Solutions in English Medium to each chapter is provided in the list so that you can easily browse through different chapters Class 11 Finance MCQ Chapter 15 Endorsements Question Answer and select need one. Class 11 Finance MCQ Chapter 15 Endorsements Solutions Download PDF. AHSEC Class 11 Banking Multiple Choice Solutions.
Class 11 Finance MCQ Chapter 15 Endorsements
Also, you can read the NCERT book online in these sections Solutions by Expert Teachers as per Central Board of Secondary Education (CBSE) Book guidelines. AHSEC Class 11 Finance Objective Type Solutions are part of All Subject Solutions. Here we have given HS 1st Year Banking Multiple Choice Question and Answer, HS First Year Banking MCQ Solutions for All Chapters, You can practice these here.
Endorsements
Chapter: 15
| MCQ |
1. Which section of the Negotiable Instrument Act 1881 deals with endorsements?
(i) Section 12.
(ii) Section 13.
(iii) Section 15.
(iv) Section 16.
Ans: (iii) Section 15.
2. Ram draws a bill on Shyam for Rs. 5000. Ram endorsed it to Rohit. Rohit endorsed it to Amit. The bill’s payee is:
(i) Ram.
(ii) Rohit.
(iii) Shyam.
(iv) Amit.
Ans: (iv) Amit.
3. What is an endorsement?
(i) A written document that orders a person to pay a specific amount of money to another person.
(ii) The act of signing a negotiable instrument to transfer ownership.
(iii) None of the above.
(iv) All of the above.
Ans: (ii) The act of signing a negotiable instrument to transfer ownership.
4. Choose the correct option concerning what an order to pay includes:
(i) Accounts receivable.
(ii) Demand draft.
(iii) Bills of exchange.
(iv) Overdraft.
Ans: (iii) Bills of exchange.
5. What is an example of a negotiable document guaranteed by bank endorsement?
(i) Real estate contract.
(ii) Will.
(iii) Bill of exchange.
(iv) Marriage certificate.
Ans: (iii) Bill of exchange.
6. Which of these bills is not permitted 3 days of grace?
(i) Bill before the due date.
(ii) Bill, at the time of the due date.
(iii) Bill, after the due date.
(iv) Bill at sight.
Ans: (iv) Bill at sight.
7. Which of the following is NOT a type of endorsement?
(i) Blank Endorsement.
(ii) Restrictive Endorsement.
(iii) Partial Endorsement.
(iv) Conditional Endorsement.
Ans: (iv) Conditional Endorsement.
8. The __ pays the noting charges, although they are recordable from the __.
(i) Drawer, Drawee.
(ii) Drawee, Drawee.
(iii) Drawee, Drawer.
(iv) Drawer, Drawer.
Ans: (iii) Drawee, Drawer.
9. Which of the following documents may require endorsement?
(i) Banknotes.
(ii) Cheques.
(iii) Bills of exchange.
(iv) All of the above.
Ans: (iv) All of the above.
10. What is the party receiving cash for bills receivable known as?
(i) Drawee.
(ii) Bank.
(iii) Capitalist.
(iv) Drawer.
Ans: (iv) Drawer.
11. What is an example of a bank guarantee in international transactions?
(i) Letter of credit.
(ii) Credit card.
(iii) Debit card.
(iv) ATM withdrawal.
Ans: (i) Letter of credit.
12. Choose the correct option for what a bills receivable account is:
(i) Real account.
(ii) Personal account.
(iii) Machinery account.
(iv) Nominal account.
Ans: (ii) Personal account.
13. What is required for endorsing a cheque?
(i) A signature on the front.
(ii) A signature on the back of the cheque.
(iii) A banker’s approval.
(iv) A payment receipt.
Ans: (ii) A signature on the back of the cheque.
14. The bills that become payable at any time when produced by the holder are known as?
(i) Term bill.
(ii) Trade bill.
(iii) Accommodation bill.
(iv) Demand bill.
Ans: (iv) Demand bill.
15. The endorsement of a negotiable instrument is followed by delivery.
(i) Yes.
(ii) No.
(iii) Both (A) and (B).
(iv) None of the above.
Ans: (i) Yes.
