Administrative cost can be saved by collecting all cheques received during a week and depositing them on Monday.
Reveal answer
Fill a bubble to check yourself
Keep practicing — related questions
- Cheques received but deposited on the next day are recorded in
- X deposited Rs. 20000 in his savings bank account for payment of a cheque to be presented after 20 days. Th...
- Which of the following is rate of interest given to Radha, if she receives the maturity amount of Rs. 6,455...
- Deepak opened a recurring deposit account in a bank and deposited Rs. 500 per month for 3 years. If he will...
- Under factoring, the functions of purchase of receivables, maintenance of receivable ledgers and collection...
- A cheque of Rs. 500 issued by Mr. A (a customer of your branch) favouring Mr. X is crossed as not-negotiabl...
- Which of the following conditions should be fulfilled for a bank to get protection against conversion of a ...
- Your branch receives a garnishee order in the name of your customer, Mr. Trivedi, who has the following dep...