Question

state the importance of cheque as a medium of exchange in present time

Answer 1

Cheque is an instruction given by an account holder to the bank to transfer certain amount of money, mentioned by him, from his account, to the account he mentions. Hence, the bank transfers the money from one person to another. Thus, cheques acts as a medium of exchange.

Answer 2

Answer:

Heya ☺

✒ Importance :

⭐ it is the safest mode of transition.

⭐ it is easy to carry a cheque as compared to money.