what is the difference between cheque and draft
- 34 Answers
- 117141 Views
- Bank Of America, Bank of Baroda, BoA, MBA, State Bank Of India SBI, I also Faced
- E-Mail Answers
Answer Posted / arijit roy
An important difference between the two is that a draft can
be issued only when the amount of the draft is submitted to
the bank. Whereas a cheque can be issued irrespective of
whether there is balance in the issuer's account or not.
Incase there is no balance in the issuer's account at the
time when the cheque is presented to the bank for
encashment, the cheque will get bounced.
| Is This Answer Correct ? | 297 Yes | 36 No |
Post New Answer View All Answers
Define vouching?
What is an internal audit?
How to do an internal audit effectively?
vat on liquor vat on food ? vat on bevrages ? vat on tobaco? vat on gold?
accounting & audit system of film production enterprises
which of the following procedure would auditor lease likely perform in planning a financial statement audit?
i read in andhra bank recruitmentin that i saw english languages marks are eligible what is that eligible mark
for how much loan a borrower has to submit QIS
What is non statutory audit?
What is mean by error of submission? can u plz provide notes on this?
what is the reason for controls in an IS environment?
What are the importance of internal audit to the organization?
Explain about cross functional audits?
Explain the purpose of meeting in audit?
what is the difference you can make by doing your course in the country of your choice
