Interested to Buy Any Domain ? << Click Here >> for more details...
what is the distinction between Bill of Exchange and a
Cheque
- 5 Answers
- 16128 Views
- I also Faced
- E-Mail Answers
Answer Posted / m.j. subramanyam
The following are the main differences between a cheque and
a demand draft:
1. A cheque is issued by an individual, whereas a
demand draft is issued by a bank.
2. A cheque is drawn by an account holder of a bank,
whereas a draft is drawn by one branch of a bank on another
branch of the same bank.
3. In a cheque, the drawer and the drawee are
different persons. But in a draft both the drawer and the
drawee are the same bank.
4. A Cheque can be dishonored for want of sufficient
balance in the account. Whereas a draft cannot be
dishonoured. Hence there is certainty of the payment in the
case of a demand draft.
5. Payment of a cheque can be stopped by the drawer of
the cheque, whereas, the payment of a draft cannot be
stopped.
6. A cheque is defined in the Negotiable Instrument
Act, 1881, whereas a demand draft has not be precisely
defined in the NI Act.
7. A cheque can be made payable either to a bearer or
order. But a demand draft is always payable to order of a
certain person.
M.J. SUBRAMANYAM, XCHANGING, BANGALORE
| Is This Answer Correct ? | 0 Yes | 1 No |
Post New Answer View All Answers
EXPAND_________TOEFEL
what is mean by traditional accounting ?
Dear sir i had been called for ntpc interview and gd next month..please guide me for it!
does MIS reports are used in Tally n Focus software? if yes how it is used in focus software? for AR n AP
with out college degree con't we dc accounting job?
How Can Pass Credit Limit Entry If We Take Limit Of BANK I Maintain Of Account In Tally.ERP9 Than We Create Bank Ledger of Which Under
what is joint venture?
Examples of automatic generated content material of car logbook loans?
What do you mean Business
give me only one transactions in both side (debit&credit) should be in real accounts
What is Hot Issue Income for Hedge Funds?
In Oracle Applications will Translation will create any journal entry then what is the journal entry what are the accounts affected
You configured new assets accounting for your company code with three depreciation areas that post in real time. When posting an external acquisition. How many documents are created?( any 1 answer) 2 3 4 6
Expand----------CMST
What are different types of reports made in tally
