CMA Foundation Dec 2026 | Paper 2 FFCA — Bills of Exchange ALL MCQs Solved

CMA Foundation December 2026 students — this video covers ALL MCQs on Bills of Exchange from Paper 2 (FFCA), solved one by one with clear reasoning for each option. 📌 What's covered in this video: ✅ Discounted bill as contingent liability until honored ✅ Dishonour of an endorsed bill — whose liability it becomes ✅ Days of grace and calculating the maturity/due date ✅ Features of a bill of exchange (drawer, drawee, acceptor) ✅ Renewal of a bill with interest calculation ✅ Accommodation bill — discounting and remittance calculation ✅ "After date" vs "after sight" — maturity date calculation ✅ Insolvency — deficiency and amount recovered from estate ✅ Retirement of a bill vs dishonour ✅ Drawer, Drawee, Payee, Endorser, Endorsee — who's who ✅ Promissory Note vs Bill of Exchange ✅ Free downloadable PDF with all solved MCQs 🎯 Bills of Exchange is a date-calculation-heavy chapter in CMA Foundation FFCA — once you're confident with maturity date and days of grace calculations, these MCQs become quick, guaranteed marks. 📥 FREE PDF DOWNLOAD: Link available in the description box below and pinned as the first comment. 💬 Got doubts on any question? Drop them in the comments — I'll help you out. ⏱️ TIMESTAMPS: 0:01 Intro — Bills of Exchange MCQs 0:21 Discounted Bill — Contingent Liability 0:43 Dishonour of an Endorsed Bill 1:58 Bill of Exchange — Unconditional Order 2:22 Noting Charges — Paid by Drawee 2:37 Days of Grace for Maturity Date 2:53 Feature of Bill of Exchange — Not Appropriate 3:33 Renewal of Bill with Interest Calculation 4:27 Maturity Date Definition 4:41 Accommodation Bill — Discounting & Remittance 7:08 Due Date Calculation — Month After Date 7:51 Insolvency — Amount Received from Estate 8:21 Maturity Calculation — After Date 9:05 No Entry in Drawer's Books — Discounted Bill Honored 9:34 Dishonoured Bill — Drawee's Entry 10:02 Negotiable Instrument — Currency Notes 10:18 Maturity Date with Public Holiday 10:52 Payee of an Endorsed Bill 11:22 Retirement of a Bill 11:38 Maturity Date Calculation — 30 Days 13:58 Discounting a Trade Bill — Discount Calculation 14:36 Public Holiday — Due Date Preponement 14:49 Bills Receivable — Representative Personal Account 15:05 Insolvency — Deficiency Calculation 15:49 Promissory Note — No Acceptance Required 16:08 Promissory Note — Drawn by Maker 👉 Subscribe for more CMA Foundation Paper 2 FFCA chapter-wise MCQ solving, free study material, and exam strategy. --- 🔗 Useful Links: Free PDF (Bills of Exchange MCQs Solved): [link in description/pinned comment] Full ICMAI Question Bank Playlist: Must Do Kit For December 2026: ❓ FREQUENTLY ASKED QUESTIONS Q1. What is a discounted bill before it is paid by the acceptor? A. Until a discounted bill is honored by the acceptor, it remains a contingent liability for the party who got it discounted. Q2. When an endorsed bill is dishonoured, whose liability does it become? A. It becomes the liability of the endorser — the person who endorsed the bill to someone else — since they are responsible for making the payment if the bill is dishonoured. Q3. How many days of grace are added while calculating the maturity date of a bill? A. Three days of grace are added to the due date to arrive at the maturity date, as per the Negotiable Instruments Act. Q4. What is the difference between "after date" and "after sight" in calculating a bill's maturity? A. "After date" bills are calculated from the date the bill was drawn. "After sight" bills are calculated from the date the bill was accepted. Q5. What happens if the maturity date of a bill falls on a public holiday? A. If the due date falls on a public holiday, the maturity date is preponed by one day — i.e., the preceding day becomes the maturity date. Q6. What does "retirement of a bill" mean? A. Retirement of a bill means making payment of the bill before its due/maturity date. Q7. What is the nature of the Bills Receivable account? A. Bills Receivable is a representative personal account — not a real account — because it represents amounts receivable from specific persons/parties. Q8. Does a promissory note require acceptance? A. No, a promissory note does not require acceptance, because it is made by the maker (debtor) themselves, promising to pay — there's no need for the maker to accept their own promise. 📚 Join Our CA/ CMA Foundation & Intermediate Classes 👉 Modes: Face-to-Face (Kolkata), Live Online, Google Drive, and Pendrive 📞 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩: / 🌐 𝐕𝐢𝐬𝐢𝐭: ‎🌐 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩 𝐂𝐡𝐚𝐧𝐧𝐞𝐥: 🌐 𝐓𝐞𝐥𝐞𝐠𝐫𝐚𝐦: 🌐 𝐈𝐧𝐬𝐭𝐚𝐠𝐫𝐚𝐦: #CMAFoundation #FFCA #BillsOfExchange #CMAFoundationDecember2026