Give a word/term or phrase for each of the following statements:(i) S

1.	Give a word/term or phrase for each of the following statements:(i) Signing on the backside of the cheque to transfer its ownership.(ii) An extract of customer’s account maintained by the bank.(iii) A type of cheque whose payment is done across the counter of the bank.(iv) Bank on whom a cheque is drawn.(v) Document used for depositing cash or cheque into the bank.
Answer» (i) Endorsement of Cheque (ii) Pass Book (iii) Bearer Cheque (iv) Drawee (v) Pay-in-slip

Give a word/term or phrase for each of the following statements:(i) Signing on the backside of the cheque to transfer its ownership.(ii) An extract of customer’s account maintained by the bank.(iii) A type of cheque whose payment is done across the counter of the bank.(iv) Bank on whom a cheque is drawn.(v) Document used for depositing cash or cheque into the bank.

Answer»

(i) Endorsement of Cheque

(ii) Pass Book

(iii) Bearer Cheque

(iv) Drawee

(v) Pay-in-slip

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