Question

A bill can't be deposited into bank for collection. (State True or False)

Answer 1

FALSE....

BILL ALSO CAN DEPOSIT INTO BANK

Answer 2

Answer:

It is false, a bill can be deposited in the bank for collection.

Explanation:

Collection of the bill by the bank is for safety purpose, the bank keeps these bills in custody till the due date. On the due date, these bills are sent to the acceptor so that they can pay them.

Once the acceptor pays the amount, that amount is transferred by the bank into its customer's account.