Bills Of Exchange — Important Questions
Telangana Open School (TOSS) · Class 12 · Accountancy
49 important questions from Bills Of Exchange for Telangana Open School (TOSS) Class 12 Accountancy, with answers. Written for the board exams 2027.
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.
Free trial, no card needed.
Important Questions from Bills Of Exchange
How many days of grace are added to calculate the maturity date of a bill?
Show answer
3 days
Three days of grace are added to the nominal due date to determine the actual date of maturity unless it is a bill at sight.
Which party accepts the bill of exchange?
Show answer
Drawee
The drawee is the person upon whom the bill is drawn and who accepts it by signing, thereby becoming the acceptor.
What is a promissory note?
Show answer
A promise to pay made by the debtor
According to Section 4 of the Negotiable Instruments Act, 1881, a promissory note is an unconditional undertaking in writing by the maker to pay a certain sum to a specified person.
Which of the following instruments requires acceptance?
Show answer
Bill of Exchange
A bill of exchange must be accepted by the drawee to become binding, whereas a promissory note does not require acceptance as it is already a promise.
+45 more questions on Bills Of Exchange (Telangana Open School (TOSS) Class 12 Accountancy)
Practise AllFrequently Asked Questions
What are the important topics in Bills Of Exchange for Telangana Open School (TOSS) Class 12 Accountancy?
How many important questions are there in Bills Of Exchange?
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
For serious students
Get the full Bills Of Exchange chapter — start free.
Quizzes, flashcards, an AI doubt solver and a study plan for Telangana Open School (TOSS) Class 12 Accountancy. Free to start, no card needed.