Tag: banking and bank transactions

Quizzes (4) Questions (51)

Questions Related to banking and bank transactions

Multiple choice business organisation and correspondence negotiable instruments 1 - cheque meaning and types of banks banking and bank transactions bills of exchange, promissory notes and hundis

The contents of the pay in slip in the main part and the counterfoil are completely different.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The pay-in slip and its counterfoil are designed to be mirrors of each other, containing the same information (date, account name, amount, etc.) so that the bank can provide a receipt to the depositor.