Select the Most Appropriate Alternative from Given Below and Rewrite the Statement a Person on Whom a Bill of Exchange is Drawn is Called as _______ - Book Keeping and Accountancy

Select the most appropriate alternative from given below and rewrite the statement
A person on whom a bill of exchange is drawn is called as _______

MCQ

A person on whom a bill of exchange is drawn is called as drawee

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Accounting Treatment of Bill by the Drawer Or Holder and Drawee

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2016-2017 (July) Set 1

Q 1.C.4 | 1 mark

Drawee can transfer the ownership of a bill.

Answer in one sentence only.

Who is a Drawer?

Give word / term or phrase for the following statement.
Acceptance without making any change in the terms of a bill.

Give word / term or phrase for the following statement.
Acceptance with some changes as regards the terms of a bill.

Write True or False.
Bill of exchange is an instrument in writing, containing an unconditional order.

A bill of exchange is signed by the person on whom it is drawn.

State whether the following statement is True or False.
A person to whom or as per his order, amount of bill is payable is a Payee.

Write True or False.
Acceptance with some change as regards the terms of a bill general acceptance.

Write True or False.
Drawee is a person who holds the title of the bill in due course.

Write True or False
Drawee can transfer the ownership of the bill.