what is the difference between cheque and draft
Answers were Sorted based on User's Feedback
Answer / nitesh
# 25 There are many difference between cheque and dtaft
1. to issue cheque u have to an account in bank .
but in case of Darft it not neccessarily that u have an a/c
in bank .
2. for issueing cheque u have nothing to paid in bank .
in case of draft u have to paid the some money to make a
draft to bank .
3. CHEQUE IS USING FOR BOTH A INDIVISUAL PERSON AND A AN
ORGANIZATION BUT DRAFT IS ISSUED ONLY IN FAVOUR OF AN
ORGANIZATION
4. for chewue we have to cheque book but for draft there is
a vocher given from cheque .
5. in case of issue a cheque we need not go to the bank if
we have cheque book
but to make a draft we have to go the bank .
6. in case of cheque the amount in the a/c must compulsary.
otherwise cheque will be bounce .
but in case of draft its not compulsory we can issue a
draft to giving money to the banker .
&. draft is more secure than cheque because if there is
sign in cheque any one can cash the cheque .
but in case of the draft ts only given to the person or
organisation in which favour its made
Is This Answer Correct ? | 1 Yes | 5 No |
Answer / amit rastogi
THE BASIC DIFFERENCE IS DEMAND DRAFT(DD) DO NOT REQUIRE A SIGNATURE IN ORDER TO BE CASHED WHILE CHEQUE REQUIRED.
Is This Answer Correct ? | 1 Yes | 6 No |
Answer / ajaz
Both are neegotiable instruments and are payable on demand
Is This Answer Correct ? | 49 Yes | 56 No |
Answer / bhavesh
what is the difference between cheque and draft
Is This Answer Correct ? | 2 Yes | 12 No |
we want to know that the rate of TDS on contractor , rent, Professional and also know that what is the minimum amount for TDS on Contractor , Professional
what is a turn over ratio?
5 Answers SA Engineering, SSC,
why you leave the present job ?
I have received a sum of Rs.500 worth Bill from Vendor, which is relevent to 2004-05. But Outstanding Expenses not book during that Year? What is the Accounting Policies to book this expenses?
Why did you choose our firm rather than other firms?
I 've Tally7.2 in my pc & i have Data from 2005 but my Auditor wants only data from 2008 -2009 How do i send that years data i means from 2008 -2009
What are the essential of internal audit?
What are objectives of internal audit?
I Have MBA in Finance and staying at Ameerpet. Please help me in findinag a best institute to learn tally near to Ameerpet.
what is the journal entry for this situation? and why? situation: Gratuity for this year TK1000000,which TK700000 shows in income statement and TK150000 will shown in next 2 year each.(this is a management decision)
Do you think Auditing job is very boring ?
Hi Friends! Pls clear my doubt.... Is there any changes made in TDS rate for the A.Y. 2012-13?