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Worksheets8B & C FL: Money In & Out, Demand Draft
Total questions: 10
Worksheet time: 8mins
What is a cheque?
A written order of a depositor upon a bank to pay a designated party or to a bearer
A document that orders a payment of money from a bank account
A type of payment order issued by a bank
A method of transferring money from one place to another
What is a bearer cheque?
A cheque that can be collected only by a bank from the drawer bank
A cheque that can be cashed by the bearer of the cheque
A cheque that is not crossed
A cheque that is not honoured by the bank
What is an open/uncrossed cheque?
A cheque that can be collected only by a bank from the drawer bank
A cheque that can be cashed by the bearer of the cheque
A cheque that is not crossed
A cheque that is not honoured by the bank
What is a crossed cheque?
A cheque that can be collected only by a bank from the drawer bank
A cheque that can be cashed by the bearer of the cheque
A cheque that is not crossed
A cheque that is not honoured by the bank
What is an ante-dated cheque?
A cheque that bears a date earlier than the date on which it is presented to the bank
A cheque that bears a date which is yet to come (future date)
A cheque that is presented for payment after three months from the date of the cheque
A cheque that is not honoured by the bank
What is a post-dated cheque?
A cheque that bears a date earlier than the date on which it is presented to the bank
A cheque that bears a date which is yet to come (future date)
A cheque that is presented for payment after three months from the date of the cheque
A cheque that is not honoured by the bank
What is a stale cheque?
A cheque that bears a date earlier than the date on which it is presented to the bank
A cheque that bears a date which is yet to come (future date)
A cheque that is presented for payment after three months from the date of the cheque
A cheque that is not honoured by the bank
What are the benefits of using cheques?
Secure and certain method of payment
No chance of fake notes circulating
Can be easily cancelled
All of the above
What is a demand draft?
A written order of a depositor upon a bank to pay a designated party or to a bearer
A document that orders a payment of money from a bank account
A type of payment order issued by a bank
A method of transferring money from one place to another
What are the details required to send a demand draft?
Type of demand draft, mode of payment, recipient's name, and amount
Type of demand draft, mode of payment, issuing branch, and recipient's name
Type of demand draft, mode of payment, issuing branch, and location the draft should be payable at
Type of demand draft, mode of payment, issuing branch, location the draft should be payable at, recipient's name, and amount
