The students will be able to
- To state the meaning of Bills of Exchange and Promissory note;
- To describe the features of Bills of exchange and Promissory note;
- To state the advantages of bill of exchange;
- To distinguish between a bill of exchange and a promissory note;
- To identify the parties to a bills of exchange and a promissory note;
- To explain the meaning of different terms involved in the bill transaction,
- To record bill of exchange transactions in journal;
- To record transactions relating to dishonor, retirement and renewal of bill;
- To state the meaning and uses of Accommodation Bill;
- To describe the uses of Bills receivable and payable book.
- This is only a practice test, it is designed to help you revise your concepts
- The test contains questions, only 1 option is correct for each question
- This is a timed test.
- After you have finished the test, press on the 'Finish Test' button to know your score and get the correct answers