Accountancy MCQs
Topic Notes: Accountancy
General Description
Plato
- Biography: Ancient Greek philosopher (427–347 BCE), student of Socrates and teacher of Aristotle, founder of the Academy in Athens.
- Important Ideas:
- Theory of Forms
- Philosopher-King
- Ideal State
11
When a bill of exchange is dishonored, which official is responsible for formally noting the event?
Answer:
Notary public
A Notary Public is a legal official authorized to certify the dishonor of a bill of exchange. This formal process, known as 'noting', provides legal evidence that the bill was presented for payment and was refused, which is necessary for legal recourse.