How are demand deposits accepted as a means of payment – InterviewSolution

1.	How are demand deposits accepted as a means of payment
Answer» tion:A cheque is a paper instructing the BANK to pay a specific amount from the person's account to the other person or to the account HOLDER. . Thus, we SEE that demand deposits share the essential FEATURES of money. ... The facility of cheques against demand deposits makes settlement of payments POSSIBLE without using cash.

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