McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Business Administration (BBA) , Union Public Service Commission (UPSC) , Indian Administrative Service (IAS) , Staff Selection Commission (SSC) , Common Law Admission Test (CLAT) .
| 151. |
If a cheque is refused by the State Bank of India (SBI) due to inadequacy of funds for the cheque to clear, then it is said to be |
| A. | Bounced cheque |
| B. | Cancelled cheque |
| C. | Either a or b |
| D. | Both a and b |
| Answer» A. Bounced cheque | |
| 152. |
If the words "not negotiable" are used with special crossing in a cheque, the cheque is |
| A. | Not transferable |
| B. | Transferable |
| C. | Negotiable under certain circumstances |
| D. | None of the above |
| Answer» A. Not transferable | |
| 153. |
Crossing of a cheque effects the |
| A. | Negotiability of the cheque |
| B. | Mode of payment on the cheque |
| C. | Both (a) and (b) |
| D. | None of the above |
| Answer» C. Both (a) and (b) | |
| 154. |
Notice of dishonour must be given |
| A. | To the drawer and drawee only |
| B. | To the drawer, acceptor and endorser(s) only |
| C. | To all the parties liable on the instrument or to their duly authorized agent |
| D. | To all the parties who are secondarily liable on the instrument or to their duly authorized agent |
| Answer» D. To all the parties who are secondarily liable on the instrument or to their duly authorized agent | |
| 155. |
Presentation is required for |
| A. | Acceptance |
| B. | Sight |
| C. | Payment |
| D. | Any of the above three purposes |
| Answer» D. Any of the above three purposes | |
| 156. |
A minor cannot be a______________ of the instrument |
| A. | Drawer |
| B. | Drawee |
| C. | Payee |
| D. | Acceptor |
| Answer» C. Payee | |
| 157. |
Presentment of an acceptance is required in case of |
| A. | Every Bill of exchange |
| B. | Every Bill of exchange payable after sight |
| C. | Every promissory note |
| D. | Every cheque |
| Answer» C. Every promissory note | |
| 158. |
A drawee is need to be given a deliberation of |
| A. | 24 hrs |
| B. | 48 hrs |
| C. | 72hrs |
| D. | 10 days |
| Answer» B. 48 hrs | |
Done Studing? Take A Test.
Great job completing your study session! Now it's time to put your knowledge to the test. Challenge yourself, see how much you've learned, and identify areas for improvement. Don’t worry, this is all part of the journey to mastery. Ready for the next step? Take a quiz to solidify what you've just studied.