Question

In what ways have cheques made exchange of money more convenient?

SCERT Telangana Class 8 Social Science Ch 7 Money and Banking

Answer 1

Use of cheques are a convenient form money exchange in regards to the following:
-payments can be made via cheques  without carrying around large sums of money.
-money transfer remains safe as the only person who can cash a cheque is the named individual.
-Counting mistakes can be avoided.
-cheques can easily be traced if lost, contrary to losing cash.
-money transfer is safer with crossed cheques.
-individuals can use post-dated cheques.

Answer 2

Buy the following ways have cheques made exchange of money more convenient.
- cheques can be easily carried buy a person instead of more money .
- cheques can be approved by the bank members if it is an illegal case.
- cheques are more safe then the huge amount of money. if the money is lost it may cause any problem to the person but if the cheques will lost there will be no problem to the person.