Various Negotiable Instruments

1. The payment made through a cheque is known as:

a) Cash payment

b) Online payment

c) Electronic payment

d) Cheque payment

2. Which of the following is not a negotiable instrument?

a) Cheque

b) Promissory note

c) Bill of exchange

d) Invoice

3. A promissory note is a written promise to:

a) Lend money

b) Borrow money

c) Issue a cheque

d) Transfer funds electronically

4. Which of the following is not a type of cheque?

a) Bearer cheque

b) Order cheque

c) Crossed cheque

d) Electronic cheque

5. A bill of exchange is a written order from one party to another to:

a) Pay a sum of money

b) Deposit money in a bank

c) Transfer funds electronically

d) Issue a cheque