MyQuestionIcon

2

You visited us 2 times! Enjoying our articles? Unlock Full Access!

Business Studies

Banking Service

A is the most...

Question

A ___________ is the most developed credit instrument of the bank, for the withdrawal of deposits.

A

demand draft

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

funds

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

cheque

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

D

none of the above

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C
cheque

A cheque is the most developed credit instrument of the bank, for the withdrawal of deposits. It is the most convenient and an inexpensive medium of exchange.

Suggest Corrections

thumbs-up

0

Similar questions

Q. State whether the following statements are true or false.

1) Cash memo is used for credit purchase/sale.
2) A receipt is used for cash sales.
3) Crossed cheque is a very safe cheque.
4) A voucher is a document in support of an entry in the books of account.
5) Only withdrawal slip is used to withdraw the amount from the bank.
6) A bearer cheque is just like a withdrawal slip.

A Treasury Bill is basically

(a) An instrument to borrow short-term funds

(b) An instrument to borrow long-term funds

(c) An instrument of capital market

(d) None of the above

Q. A document which is used in place of cheque for withdrawing amounts from bank is a/an ____________.

Q. Kinds of Negotiable Instruments
A cheque is a _____ drawn on a bank payable always ______.

Q. From the following particulars prepare bank reconciliation statement as on 31st March 2015:
(a) Debit balance as per Cash Book ₹ 1,500.
(b) A cheque for ₹ 2,000 issued in favour of X has not been presented for payment.
(c) A bill for ₹ 4,000 retired by bank under a rebate of ₹ 120. The full amount of the bill was credited in Cash Book.
(d) A cheque for ₹ 750 deposited in bank has been dishonoured.
(e) A sum of ₹ 3,600 deposited in the bank has been credited as ₹ 360 in the Pass Book.
(f) Payment side of Cash Book has been undercast by ₹ 100.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Business Services - Banking

BUSINESS STUDIES

Watch in App

explore_more_icon

Explore more

Banking Service

Standard XI Business Studies

Join BYJU'S Learning Program

CrossIcon