what is the difference between pay order & D.D.?
- 12 Answers
- 76969 Views
- DCB Bank, ICICI, Krishi Bank, I also Faced
- E-Mail Answers
Answer Posted / sanju mandiyan
A demand draft is a pre paid negotiable instrument, wherein
the drawee bank undertakes to make payment in full when the
instrument is presented by the payee for payment. The
demand draft is made payable at a specified branch of a
bank at a specified centre. In order to obtain payment, the
beneficiary has to either present the instrument directly
to the branch concerned or have it collected by his bank
through the clearing mechanism.
A banker’s cheque(Pay Order) is another payment instrument
which is used by the banks to settle payment obligations on
behalf of their customers. This instrument is guaranteed by
the bank for its full value and is similar to a demand
draft. In practice, these instruments are payable at the
branch of issue and are used for payment within the local
clearing jurisdiction
| Is This Answer Correct ? | 7 Yes | 2 No |
Post New Answer View All Answers
Data flow of Accounts payable to General ledger?
How is the expenditure of developing a modified product treated?
helo sir, i want to know the writen exam pattern for finance and accounts ang general apptitude test of ongc.
what is purchase consideration? How does it come about and how is it treated in the books?
i engaged with the accounts of manufacturing concern, i have a question when we purchased a fixed assets and after this we put the fuel in this for trial then this fuel is our also capital exp
Hello every one i'm going to interview for as an account profile company is construction works so plz guys help me about furthering interview question
sort out the difference between service provider & service reciepient from the service tax.
What is the difference between Risk, Threat & Hazard?
why the closing stock is not considered in drawing trail balance.... Are there any other items like the above
What is accounts payable?
Is TDS applicable to Voice Over IP(VOIP) service to an India VOIP service provider? please provide the related acts and case studies.
Name some errors which can be detected by Trial Balance
a) What are the Golden Rules of Accounting? What are the 14 Principles of Accounting
Guest expenses Rs 5500/-on behalf of partner Aravind was written as Hospitality. Rectify it
I was born on 4th may 1981 iam i eligible to apply for SBI clerical job vacancy
