Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / priyank kaushik
Both pay orders and demand drafts are used by individuals
to make transfer payments from one bank account to another.
The main difference between the two is that while a demand
draft is a written order directing the payment to be made
to a third party outside your city, a pay order is drawn
for the third party within your city.
They both are, however, different from cheques in that they
don’t require a signature in order to be cashed. The
banking dictionary refers to the person writing the draft
as the drawee, the bank making the payment is the drawer,
or the payor bank. The beneficiary of a demand draft, the
person receiving the payment, is the payee. Charges for
demand drafts and pay orders are independent of inter- or
intra-city transactions but are calculated as a percentage
on the amount of the draft or pay order.
| Is This Answer Correct ? | 68 Yes | 11 No |
Post New Answer View All Answers
Data flow of Accounts payable to General ledger?
You are given the following information in respect of a company: Fixed cost –Rs.13,000 Variable cost –Rs.14,000 Net profit –Rs.3,000 Net sales-Rs.30,000 Find out: a>BEP b>The profit for sales volume of Rs.50,000 c>The volume of sales to make a profit of Rs.10,000
Expand---------OST
Short Answer on _________Accounts Receivable
duties of bank finance manager
pls send me capital iq quition paper pls, ihave 2mr interview thanks
what is cnc machine hour rate? how it is calculated?
what is joint venture?
what is the frienge benefits tax?what is usefull?
can anyone provide me the Balance Sheet Items & P & L Items with Accounting Heads with Accounting codes?
wages posted twice what is the entry for that?
what is the main link between the income statement and the balance sheet?
What type of questions are asked for Interview of Manager Finance in Airport Authority of India ?
Apportion Rs 125000/- Nett loss among the partners A,B,C as per their sharing ratios 32%,16% and the balance to C. Pass journal entry
why do we charge the depreciation
