Question

___________ is used for depositing cheque and cash into a bank account.

• A. Pay-in-slip
• B. Withdrawal slip
• C. Cheque
• D. Application

Answer 1

Answer: (A)

Pay-in-slip

• Pay-in-slip is also called as a deposit slip. When a person deposits cheque or cash into a bank account, pay-in slip is filled in. It has the details viz account number, amount, date, etc. Depositor need not be account holder.
  
• Withdrawal slip is used to withdraw money from an account with a bank. Signature of account holder is necessary to withdraw money.
  
• Cheque is an instrument that is provided to an account holder to transact through his/her bank account. It is used to withdraw cash from account, and pay off debts.