Social Sciences, asked by ajitraj63, 1 year ago

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

Answers

Answered by luciferxixo

Bonjour ¡!

The facility of cheques against demand deposits makes it possible to directly settle payments without the use of cash.

ajitraj63: thanks you

Answered by danesh18

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.

Previous Question

Next Question

Similar questions

Math, 7 months ago

2-10 (x-b) when x=8 and b =3...

Geography, 7 months ago

Q1. Why do you think sunlight cannot reach the forest floor in the equatorial forest region? Q2. The plant life in the equatorial forest region teaches us that to survive one has to adjust to one's surroundings. What are the different ways in which we adjust to the different seasons? Q3. Which of the following statements are true about frigid zone? a. The summer and winter seasons are very...

Math, 7 months ago

JEE ADVANCED MATHS QUESTION SEPTEMBER 2020...

English, 1 year ago

Fill in the blanks with adjectives Made from the nouns given in the brackets. 1.The mango is a ..............fruit (seasonal)2.It was a serious accident, but we had a ............escape. (miracle)3.The...............boy was fined Rs.100 (mischief )4.Delhi has many buildings of ...........interest (history).5.Mohan is the most ............boy in the class. (industry)...

English, 1 year ago