Question

Define the term cheque and demand deposit

Answer 1

Cheque: Cheque is a paper instructing the bank to give the specific amount of money from the person's account to the person in whose name the cheque has been issued.

Demand deposits: People those who have extra cash deposit it with the bank by opening a bank account in their name. Since these deposits can be withdrawn on demand ,these deposits are called demand deposits.

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Answer 2

hey dear your ans is here

now let's discuss :--



cheque :-- cheque is a paper instructing the bank to pay a specific amount to a person from one person's account whose name has been issued on the cheque.

now let's discuss the 2nd part :--


demand deposits :-- as we know that depositors deposit their money in banks but when they need the money so they withdraw their money from bank on the demands. and that is what we call demand deposits.


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