Question

3. When a payment made through cheque instead of cash, what is it called?​

Answer 1

Answer:

When a payment made through cheque instead of cash, it is called Non cash mode of payment.​

Explanation:

Non cash item:-

A non-cash item is a negotiable instrument similar as a check or bank draft that's banked but can not be credited until it clears the issuer's account.

In non cash mode of payment money is not paid directly.

Advantages of Non cash payment:-

1. It’s always easier and safer to carry a smartphone rather than carrying bunch of cash. Digital payment modes are made secure with varying levels of encryption and data authentication.
2. To increase the movement towards a cashless economy, the government has decided to offer discounts for making online payments.
3. Online payments eliminate necessity to carry cash, and they also save time, as business owners and customers no longer have to stand in line for ATM services. Payment applications also help to keep track of the account.

Define what is cheque? Link is given below:-

https://brainly.in/question/2289652

What is cash transaction? Link is given below:-

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