what is the difference between cheque and draft
Answer Posted / vikrant
Cheque and Drafts both are Negotiable Instrument, the
difference is that Cheque is issued by An Account Holder
whereas Draft is issued by A Banker. Cheques may get
dishonoured on presentment if sufficient funds are not
available in A/c Holder’s bank A/c, whereas Draft will
never get dishonoured as the sufficient Funds (Cash/Bank)
are transferred from A/c Holders Account / Draft Applicant
paying Cash to Bank’s Account at the time of Issuance of
Draft.
Is This Answer Correct ? | 5 Yes | 3 No |
Post New Answer View All Answers
How do you feel u contributed to its effectiveness?
Discuss the factors to be considered by the auditor in order to determine an audit strategy.
When should a company sack its auditor?
How to do an internal audit effectively?
What are intangible assets?
Explain the importance of internal audit to the organization?
How does an internal audit differ from an external audit?
Whats are the importance of evaluating an internal audit department?
Explain the difference between internal audit and external audit?
What should the internal auditor?
Whether Advance against property to be included in Loans & Advances while referring to section 185 & 186 of Companies Act, 2013?
What techniques used during an audit?
Why does a systems auditor need to use professional judgement when selecting audit procedures?
which of the following procedure would auditor lease likely perform in planning a financial statement audit?
Explain the before an audit processes?