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Question
Answer in one sentence:
What do you mean by stop payment of cheque?
Solution
A cheque in respect of which the account holder requests the bank not to make payment or stop payment on it is called stop payment cheque.
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RELATED QUESTIONS
Write a word or a term or a phase which can substitute the following statement:
A slip used for depositing cash and cheque in the Bank account.
Write a word or a term or a phase which can substitute the following statement:
The short term credit facility given by bank to current account holder.
Select the correct answer from the options given below and rewrite the statement.
__________ is used for depositing cash into a bank account.
Select the correct answer from the options given below and rewrite the statement.
Withdrawals are not permitted from the ____________ deposit account.
Select the correct answer from the options given below and rewrite the statement.
The appointment of banker is usually made by the _______.
Match the pairs.
| Group ‘A’ | Group ‘B’ |
| a) Lost cheque | 1) Board of Directors |
| b) Appointment of Banker | 2) Higher rate of interest |
| c) Cash credit | 3) Used for depositing cash and cheque |
| d) Fixed Deposit Account | 4) Stop Payment |
| e) Savings Account | 5) Restrictions on withdrawals |
| f) Pay-in-slip | 6) Separate Account |
| g) Overdraft facility | 7) Current Account |
| 8) Recurring Account | |
| 9) Shareholders | |
| 10) No interest is paid | |
| 11) Used for withdrawing amount from account | |
| 12) Long term credit facility | |
| 13) Certain restrictions on withdrawals | |
| 14) Dealing in foreign exchange |
Write a word or a term or a phase which can substitute the following statement:
The type of account for which higher rate of interest is paid to bank depositors..
State whether the following statement is true or false :
Joint Stock Company opens Current Account.
State whether the following statement is true or false :
In cash credit, customers account is credited by bank with sanctioned amount
State whether the following statement is true or false :
Bank overdraft facility is a long term facility.
Find the odd one:
Complete the sentence:
Accepting deposits and lending money are the primary functions of ______
Select the correct option from below
| Group ‘A’ | Group ‘B’ |
| International Trade Transactions | __________ |
Attempt the following:
Write a letter to the bank to stop payment of cheque.
Explain the following term/concept:
Current deposits
Explain the following term/concept:
Time Deposits.
Write the meaning of ‘Bank.’
