Select the correct option and rewrite the sentence

1) The person on whom a bill is drawn is called a________________.
a) Drawee
b) Payee
c) Drawer
d) Acceptor
Ans:-a) Drawee

2) Before acceptance the bill is called a________________.
a) Order
b) Request
c) Draft
d) Instrument
Ans:-c) Draft

3) When the due date of bill drawn falls due on a public holiday, the payment must be made on the_____________ day.
a) Same
b) Preceding
c) Next
d) Any
Ans:-b) Preceding

4) The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be______________.
a) 23rd Jan. 2020
b) 25th Jan. 2019
c) 26th Jan. 2019
d) 25th Jan. 2020
Ans:-d) 25th jan.2020

5) Nothing charges are borne by__________________.
a) Notary public
b) Drawee
c) Drawer
d) Endorsee
Ans:-b) Drawee

6) There are _______________ parties to bill of exchange.
a) Five
b) Four
c) Three
d) Two
Ans:- c) Three

7) When a bill is drawn for 2 months after date on 3rd Jan. 2020, its due date will be__________________.
a) 3rd Jan. 2020
b) 3rd Mar. 2020
c) 5th Jan. 2020
d) 6th Mar. 2020.
Ans:-d) 6th mar.2020.

8) Notary Public is_________________.
a) Govt. officer
b) Drawer
c) Payee
d) Endorsee
Ans:- Govt. officer

9) When Acceptor or Drawee does not pay the amount of bill to the holder on the due date it is known as_____________ the bill.
a) Returning
b) Discounting
c) Honoring
Ans:- d) Dishonoring

10) The person who accepts the bill treats the bill as___________.
a) Bills payable
b) Promissory note
c) Draft
d) Bills receivabl
Ans:-a) Bills payable