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Functions of Bank

A cheque is a...

Question

A cheque is an instrument issued by the bank that guarantees a certain amount of payment mentioning the name of the person.

A

True

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B

False

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Solution

The correct option is B False

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Similar questions

Q. A ________ is a paper instructing the bank to pay a specific amount from a person's account to the account of the person in whose name the cheque has been issued.

Q. Payment done by the account holder through issuing a cheque is entered in :

The cheque which is issued by us, but payment has not been deducted from our bank account at the end of a particular year is called?

Q. Bank column of cash book showed bank balance of

R s . 9950

. While reconciling the bank balance it was noticed that a cheque issued and paid by the bank

R s . 5100

was wrongly shown on the debit side of bank column as

R s . 510

, bank charges amounting to

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, LIC payment of

R s . 1200

made by the bank as per standing instruction were not accounted in the cash book. Find the adjusted balance of cash as per cash book.

Q. Ramesh has his account at Punjab National Bank, Delhi. According to his Cash Book, his bank balance on 31st March, 2019 was ₹ 72,950. He sent cheques for ₹ 90,075 to his bank for collection but cheques amounted to ₹ 43,769 were not collected by that date. Out of the cheques issued by him in payment of his debts, cheques for ₹ 29,344 were not presented for payment. Prepare Bank Reconciliation Statement.

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