Skip to main content
Super TutorResources
Chapter 14 of 28
QuestionsNotesFlashcardsSummaryFormulasQuizConceptsSyllabusPlan
Important Questions

Bills of Exchange

ICSE · Class 11 · Accountancy

Most important questions from Bills of Exchange for ICSE Class 11 Accountancy board exam 2026. MCQs, short answer, and long answer questions with marks.

63 questions42 flashcards5 concepts

Interactive on Super Tutor

Studying Bills of Exchange? Get the full interactive chapter.

Quizzes, flashcards, AI doubt-solver and a step-by-step study plan — built for important questions and more.

Try Super Tutor — Free

1,000+ Class 11 students started this chapter today

63 Questions·
multiple choicetrue falsemultiple correct

Sample Questions

1multiple choice
3 marks

A bill of ₹ 4,500 is retired one month early at 12% per annum. What rebate is allowed?

Show answer

₹ 45

Rebate = ₹ 4,500 × 12/100 × 1/12 = ₹ 45.

2multiple choice
3 marks

A bill accepted by the drawee for ₹ 30,000 is discounted by the holder at 6% per annum with 1 month remaining. If the bill is dishonoured and the bank paid noting charges of ₹ 15, what total amount becomes due from the acceptor in the holder's books?

Show answer

₹ 30,015

On dishonour of a discounted bill, the acceptor ultimately bears the bill amount plus noting charges. So the total due is ₹ 30,000 + ₹ 15 = ₹ 30,015.

3multiple choice
3 marks

A bill for ₹ 20,000 is endorsed to a creditor and later dishonoured. Noting charges of ₹ 25 are paid by the endorsee. What total amount is recoverable from the acceptor through the endorser in the endorsee's books?

Show answer

₹ 20,025

The endorsee records the bill amount plus noting charges as recoverable from the endorser, and ultimately from the acceptor. So the total is ₹ 20,000 + ₹ 25 = ₹ 20,025.

4multiple choice
3 marks

A bill is drawn on 24 May for 2 months after sight, and acceptance is given on 31 May. What is the due date after adding days of grace?

Show answer

3 August

For a bill after sight, the period runs from the date of acceptance. Two months from 31 May ends on 31 July, and 3 days of grace make the due date 3 August.

+59 more questions available

Practice All

Frequently Asked Questions

What are the important topics in Bills of Exchange for ICSE Class 11 Accountancy?
Bills of Exchange covers several key topics that are frequently asked in ICSE Class 11 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
How to score full marks in Bills of Exchange — ICSE Class 11 Accountancy?
Understand the core concepts first, then work through the 63 practice questions available for this chapter. Revise formulas and definitions regularly, and use flashcards for quick recall before the exam.
How many important questions are there in Bills of Exchange?
There are 63 practice questions available for Bills of Exchange. These cover multiple question types including MCQs, short answer, and long answer questions.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

More resources for Bills of Exchange

All 28 chapters — ICSE Class 11 Accountancy Important Questions

For serious students

Get the full Bills of Exchange chapter — for free.

Quizzes, flashcards, AI doubt-solver and a step-by-step study plan for ICSE Class 11 Accountancy.

Try Super Tutor Free
Try the full chapter — Free