Question

what is Cheque ?what are its advantage

Answer 1

CHEQUES ARE THE FUNCTIONAL PAPER WHICH ARE FOLLOWED BY SEVERAL BANKS AND EASY AND CONVENIENT METHOD TO TRANSFER OR GET MONEY.

ADVANTAGES OF CHEQUE;-

1-WE CAN PAY WITHOUT USING CASH.
2-SECURE AND SAFE PAYMENT POLICY.
3- EASY TO HANDLE AND PORTABLE.

【【MARK AS BRAINLIEST】】

Answer 2

• A cheque is a document that instructs our bank to pay the individual whose name appears on the cheque the specified amount in figures and language.
• Negotiable instruments include checks and other similar instruments.
• A negotiable instrument is a piece of paper that guarantees payment of a specific sum to the bearer upon presentation of the document to the banker or by a certain date.
• The drawer is the person who issues the cheque, and the drawee is the person who receives it or simply expressed, the person whose name appears on the cheque.
• The advantages of a cheque are as follows:

1. It allows people to avoid carrying large sums of cash, which is quite dangerous in today's world.

2. For remittance purposes, crossed checks are safe. The payee or endorsee can be identified in the event of fraud.

3. Check payments and salaries are secure. It proves that the payments have been made.

4. Receipts are not required when payments or salaries are made by check.

5. All checks will be entered into the bank's computer system. There is no need to keep a separate file for each payment.

6. Cheques can be passed down from generation to generation. This will make it much easy to pay for goods and services from sellers.

7. When cheques are used to make payments, extra currency notes are not printed.