Start learning →

CA Foundation The Limited Liability Partnership Act 2008: related Business Laws practice

The practice bank below covers broader Business Laws topics; a dedicated The Limited Liability Partnership Act 2008 lesson is not available yet.

Practise Business Laws with Quill →

Business Laws questions and exercises with answers

Showing questions 1–2 of 2.

Bill or promissory note?Read the answer and worked solution →Which one is NOT required?Read the answer and worked solution →

Worked practice questions

Bill or promissory note?

Read exercise and reference answers
Items
  1. Item
    Contains an order
    Category
    Bill
  2. Item
    Needs acceptance
    Category
    Bill
  3. Item
    Drawer orders pay
    Category
    Bill
  4. Item
    Contains a promise
    Category
    Note
  5. Item
    No acceptance
    Category
    Note
  6. Item
    Maker signs to pay
    Category
    Note
Categories
  1. Item
    Bill
  2. Item
    Note
Instructions
Tap a feature, then tap the instrument it belongs to.
_Source: ICAI CA Foundation Accounting Ch6 Bills of Exchange, 2. PROMISSORY NOTES_

Open this exercise →

Which one is NOT required?

Read exercise and reference answers
Questions
  1. Items
    1. It must be payable to bearer
    2. It must be in writing
    3. The promise must be unconditional
    4. The maker must sign it
    Reason
    A promissory note must NOT be made payable to the bearer. The other three are genuine requirements.
    Odd item
    It must be payable to bearer
  2. Items
    1. It must be dated
    2. Two witnesses must sign
    3. Payment in legal currency
    4. An order to pay a certain sum
    Reason
    Witnesses are not among the characteristics of a bill of exchange.
    Odd item
    Two witnesses must sign
Instructions
Tap the item that does not belong with the rest.
_Source: ICAI CA Foundation Accounting Ch6 Bills of Exchange, 2. PROMISSORY NOTES_

Open this exercise →

How to practise

  1. Choose a Business Laws question and try to work out your answer.
  2. Open the question to check the correct answer and read its worked solution.
  3. Continue in the app for bite-sized lessons, explanations and review with Quill. You can start without creating an account.

Put it into practice

Continue with Business Laws practice for CA Foundation. Read explanations as you go. No signup form needed to start.

Practise Business Laws →

More Business Laws topics

AgencyBailment and PledgeBills of ExchangeBreach of Contract and its RemediesCapacityConsentConsiderationContingent and Quasi Contracts