state the importance of cheque as a medium of exchange in present time
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Bonjour ¡!
The facility of cheques against demand deposits makes it possible to directly settle payments without the use of cash.
The facility of cheques against demand deposits makes it possible to directly settle payments without the use of cash.
ajitraj63:
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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 transfer the money from one person to another. Thus , Cheques acts as a medium of exchange.
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