A__________ is payable in demand
Bill of exchange
Cheque
Promissory note
None of these
A----------------- need not be accepted
Person in whose favour the bill is drawn is known as
Drawer
Drawee
Payee
When a drawee become insolvent, the bill accepted by him is treated as_________
Honoured
Dishonoured
All of these
Find out odd one and state the reason
Acceptor
Debtor
The extra days allowed on payment of bill is called__________
Grace days
Days of grace
Both a and b
A bill is called a _________ before its acceptance by a drawee
Draft
Find the odd one and state reason
Usable
Tenor
Tenure
Promissory note is written by the __________
Creditor
Both of these
Noting charges is an----------- to the accepter
Expenses
Income
Asset
Liability