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Question
I have to pay the shopkeeper. So, on a paper I wrote the shopkeeper’s name, the amount I have to pay, the date, and put my signature. Now, when the shopkeeper deposits this paper in the bank, he will get the money written on the paper.
What is the piece of paper known as?
I have to pay the shopkeeper. So, on a paper I wrote the shopkeeper’s name, the amount I have to pay, the date, and put my signature. Now, when the shopkeeper deposits this paper in the bank, he will get the money written on the paper.
What is the piece of paper known as?
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Solution
The correct option is D Cheque
When people wish to transfer money from one bank account to another, they usually write a cheque. A cheque is a paper instructing the bank to pay a specific amount from a person's account to another person's account. A cheque is deemed to be one of the modern forms of money.
When people wish to transfer money from one bank account to another, they usually write a cheque. A cheque is a paper instructing the bank to pay a specific amount from a person's account to another person's account. A cheque is deemed to be one of the modern forms of money.
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