how are demand deposits accepted as a means of payment
Answers
Explanation:
A cheque is a paper instructing the bank to pay a specific amount from the person's account to the other person or to the account holder. . Thus, we see that demand deposits share the essential features of money. ... The facility of cheques against demand deposits makes settlement of payments possible without using cash.
demand deposist offer another interesting facility .it helps in making the payment in cheque
the cheque is a paper instructing the bank to a pay specific amount from the person account to the other account holder
thus we see the demand deposist is share the esssential features of money
the facility of cheque against demand deposist make the settle ment of payments possible without using cash