Question

write define and uses of passbook​

Answer 1

Answer:

Here is your answer

Passbook:- A passbook is your entire balance and provides for easy record keeping.

A passbook is used for accounts with a low transaction volume, such as a savings account. A bank teller or postmaster would write, by hand, the date and amount of the transaction, the updated balance, and enter his or her initials.

Answer 2

Answer:

Explanation:

Definition of passbook : A passbook or bankbook is a paper book used to record bank, or building society transactions on a deposit account.

The uses of a passbook :

All entries (credited and debited) till the time of updating it are mentioned in your Passbook .

Its like a written record which wont fade away .Its not possible for anybody doing many transactions to remember each and every day debits and credits. So an updated passbook provides you with details

At times when you go to a financier for financing small amount say up to 1 lakh or so they always ask for last updated page of the passbook.They do this in order to see your financial stats. If it shows some nice figures doesn't matter credit or debit then you automatically get in his good books.