On a Cheque instead of two parallel lines only bank‟s name is written is known as _________ A. Payable to bearer B. General Crossing C. Special Crossing D. Both (B) and (C) E. None of the Above

On a Cheque instead of two parallel lines only bank‟s name is written is known as _________ A. Payable to bearer B. General Crossing C. Special Crossing D. Both (B) and (C) E. None of the Above
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C. Special Crossing Explanation: When a particular bank‘s name is written in between the two parallel lines the cheque is said to be specially crossed.The effect of special crossing is that the bank makes payment only to the banker whose name is written in the crossing. Specially crossed cheques are more safe than a generally crossed cheques.
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_______ is a cheque that is not crossed on the left corner and payable at the counter of the drawee bank on presentation of the cheque. A. Crossed Cheque B. Open Cheque C. General Crossing D. Restrictive Crossing E. None of the Above

Description : _______ is a cheque that is not crossed on the left corner and payable at the counter of the drawee bank on presentation of the cheque. A. Crossed Cheque B. Open Cheque C. General Crossing D. Restrictive Crossing E. None of the Above

Last Answer : B. Open Cheque Explanation: An open cheque is a cheque that is not crossed on the left corner and payable at the counter of the drawee bank on presentation of the cheque.

1 Cash Balance ₹ 33,000 Bank Balance ₹ 8,000 3 Received from Prerna cash ₹ 2,750 and a bearer cheque for ₹ 645. 

Description : 1 Cash Balance ₹ 33,000 Bank Balance ₹ 8,000 3 Received from Prerna cash ₹ 2,750 and a bearer cheque for ₹ 645. 

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(i) Issue of Bearer cheque record on payments side of cash book in Bank Column.

Description : (i) Issue of Bearer cheque record on payments side of cash book in Bank Column.

Last Answer : Do you agree with the following statements : (i) Issue of Bearer cheque record on payments ... transactions are recorded in the cash book only.

The safest form of Crossed Cheque is _____ A. Double Crossing B. General Crossing C. Special Crossing D. Account payee crossing E. None of the Above

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Which of the following is not a type of cheque issued by an individual? A. Bearer Cheque B. Crossed Cheque C. Order Cheque D. Savings Cheque

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Last Answer : D. Savings Cheque Explanation: An order cheque can be a bearer cheque if the words or bearer are not cancelled out.A crossed cheque is a cheque that has been marked to specify an instruction about the way it is to be redeemed.

Which of the following is not a condition for drafts to be negotiable? A. must be in writing, signed by the drawer B. must contain a promise to pay a certain sum if goods are received C. must contain an order to pay D. must be payable on sight or at a specified date E. must be made out to order or bearer

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If the words "not negotiable" are used with special crossing in a cheque, the cheque is A. Not transferable B. Transferable C. Negotiable under certain circumstances D. None of the above

Description : If the words "not negotiable" are used with special crossing in a cheque, the cheque is A. Not transferable B. Transferable C. Negotiable under certain circumstances D. None of the above

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The application fee may be accepted in shape of____ payable to a) Cash/Account officer of the public authority b) DD/Cheque / Account officer of the public authority c) Indian Postal Order / Account officer of the public authority d) Any one of the above

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Last Answer : d) Any one of the above

Presentment of an acceptance is required in case of A. Every Bill of exchange B. Every Bill of exchange payable after sight C. Every promissory note D. Every cheque

Description : Presentment of an acceptance is required in case of A. Every Bill of exchange B. Every Bill of exchange payable after sight C. Every promissory note D. Every cheque

Last Answer : C. Every promissory note

(i) Check deposited into Bank but not cleared is called _________ cheque.

Description : (i) Check deposited into Bank but not cleared is called _________ cheque.

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Crossing of a cheque effect the A. Negotiability of the cheque B. Mode of payment on the cheque C. Both (a) and (b) D. None of the above

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Last Answer : C. Both (a) and (b)

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Last Answer : E. Blank Endorsement Explanation: If the endorser signs, but does not give his name to whom he wishes to transfer the cheque is called Blank Endorsement.

With reference to a cheque which of the following is the „drawee bank‟ ? A. The bank that collects the cheque B. The payee‘s bank C. The endorser‘s bank D. The bank upon which the cheque is drawn

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Last Answer : C. Fiat Money Explanation: Fiat money is currency that a government has declared to be legal tender, but it is not backed by a physical commodity.

The words „not negotiable‟ can be added to _______ A. Double Crossing B. General Crossing C. Special Crossing D. Both (B) and (C) E. Both (A) and (B)

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If a draft is made to bearer, payment should be made to _____. A. a bank B. drawer C. acceptor D. anyone who presents the draft E. all of the above

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Last Answer : D. anyone who presents the draft

For hannelizing the unaccounted money for productive purposes the Government Introduced the scheme of : (1) Special Bearer Bonds (2) Resurgent. India Bonds (3) Provident Funds (4) Market Loans

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When a customer deposits cheque to a bank, the bank is a(n) A. Drawer B. Agent C. Principal D. Drawee E. Bailee

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Which of the following cheque issued by a customer under a pre-approved arrangement with the bank? A. Travellers cheque B. Multi-city Cheque C. Mutilated Cheque D. Crossed Cheque

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A cheque for a fixed amount that may be cashed or used in payment abroad after endorsement by the holder‟s signature is known as ___________ A. Travellers cheque B. Multicity Cheque C. Mutilated Cheque D. Crossed Cheque

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Last Answer : A. Travellers cheque Explanation: Traveller‘s cheque is a medium of exchange that can be used in place of hard currency. Traveller‘s cheques are often used by individuals travelling on vacation to foreign countries.

Certain characteristics or circumstances may increase the susceptibility of assets to misappropriation. Opportunities to misappropriate assets increase due to the following except: a. Inventory items that are small in size, of high value, or in high demand. b. Known or anticipated future employee layoffs. c. Easily convertible assets, such as bearer bonds, diamonds, or computer chips. d. Fixed assets which are small in size, marketable, or lacking observable identification of ownership.

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Last Answer : Certain characteristics or circumstances may increase the susceptibility of assets to misappropriation. Opportunities to misappropriate assets increase due to the following except: a. Inventory items that ... which are small in size, marketable, or lacking observable identification of ownership.

Which of the following is known as plastic money ? 1. bearer cheques 2. credit cards 3. demand dreafts 4. gift cheques 5. None of these

Description : Which of the following is known as plastic money ? 1. bearer cheques 2. credit cards 3. demand dreafts 4. gift cheques 5. None of these

Last Answer : credit cards

If a bank account is only overdrawn by 85c, can they still 'bounce' a customer's cheque?

Description : If a bank account is only overdrawn by 85c, can they still 'bounce' a customer's cheque?

Last Answer : It doesn’t matter if it’s 85 cents or 85 dollars. To a bank, overdrawn is overdrawn.

A crossed cheque is one, which can be encashed only at which bank? -Do You Know?

Description : A crossed cheque is one, which can be encashed only at which bank? -Do You Know?

Last Answer : answer:

A crossed cheque is one, which can be encashed only at which bank? -Do You Know?

Description : A crossed cheque is one, which can be encashed only at which bank? -Do You Know?

Last Answer : answer:

The rules framed in the Clayton‟s case have been incorporated in _________ A. Banking Regulation Act, 1949 B. Reserve Bank of India Act, 1934 C. Negotiable Instruments Act, 1881 D. Indian Contract Act, 1872 E. None of the Above

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Last Answer : D. Indian Contract Act, 1872 Explanation: The rules framed in the Clayton‘s case was incorporated in Section 59 of the Indian Contract Act, 1872.

A bank doesn't honour 1. an ante-dated cheque 2. a state cheque 3. a post-dated cheque 4. both 2 and 3 5. None of these

Description : A bank doesn't honour 1. an ante-dated cheque 2. a state cheque 3. a post-dated cheque 4. both 2 and 3 5. None of these

Last Answer : both 2 and 3

Which of the following is not true of a letter of credit? A. it is a document B. issued by a bank C. at the request of the exporter D. the bank agrees to honor a draft drawn on the importer E. payable in the designated currency

Description : Which of the following is not true of a letter of credit? A. it is a document B. issued by a bank C. at the request of the exporter D. the bank agrees to honor a draft drawn on the importer E. payable in the designated currency

Last Answer : C. at the request of the exporter

A collection of non-bank financial intermediaries that provide services similar to traditional commercial banks is known as _________ A. Off-shore Banking B. Investment Banking System C. Shadow Banking System D. Conventional Banking E. Merchant Banking System

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Last Answer : C. Shadow Banking System Explanation: A shadow banking system refers to the financial intermediaries involved in facilitating the creation of credit across the global financial system but ... oversight. The shadow banking system also refers to unregulated activities by regulated institutions.

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Description : No one can see me, hear me, feel me, or smell me. Yet, if you tell me... I can do all those things and more. Every person, animal, amphibian (or more) needs me. Without me my wielder ... be used if my bearer lives. You can create me cooperatively, but cannot create me manually. What am I? -Riddles

Last Answer : I am your brain.

External devices such as printers, keyboards and modems are known as _________ A. Special Buys B. Add on Devices C. Peripherals D. All of the above

Description : External devices such as printers, keyboards and modems are known as _________ A. Special Buys B. Add on Devices C. Peripherals D. All of the above

Last Answer : C. Peripherals

Who com merited that Cripps Mission was a postdated cheque on a crashing bank? -General Knowledge

Description : Who com merited that Cripps Mission was a postdated cheque on a crashing bank? -General Knowledge

Last Answer : The answer is 'Mahatma Gandhi'

Who com merited that Cripps Mission was a postdated cheque on a crashing bank? -General Knowledge

Description : Who com merited that Cripps Mission was a postdated cheque on a crashing bank? -General Knowledge

Last Answer : answer:

Who com merited that Cripps Mission was a postdated cheque on a crashing bank? -General Knowledge

Description : Who com merited that Cripps Mission was a postdated cheque on a crashing bank? -General Knowledge

Last Answer : answer:

Co-operative banks are regulated by the Reserve Bank of India under _________ A. Banking Regulation Act, 1949 B. Banking Laws (Application to Co-operative Societies) Act, 1965 C. Both (A) and (B) D. Negotiable Instrument Act–1881 E. None of the Above

Description : Co-operative banks are regulated by the Reserve Bank of India under _________ A. Banking Regulation Act, 1949 B. Banking Laws (Application to Co-operative Societies) Act, 1965 C. Both (A) and (B) D. Negotiable Instrument Act–1881 E. None of the Above

Last Answer : C. Both (A) and (B) Explanation: Co-operative banks are regulated by the Reserve Bank of India under the Banking Regulation Act, 1949 and Banking Laws (Application to Co-operative Societies) Act, 1965

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Description : _________ service helps user in knowing their Aadhaar Seeding status with their bank account. A. WAP B. QSAM C. NUUP D. Both (A) and (B) E. Both (B) and (C)

Last Answer : B. QSAM Explanation: QSAM (Query Service on Aadhaar Mapper) – This service helps user in knowing their Aadhaar Seeding status with their bank account

Fixed Deposits and Recurring Deposits are _________ A. repayable after an agreed period. B. repayable on demand. C. not repayable. D. repayable on demand or after an agreed period as per bank‘s choice.

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Last Answer : Answer: 1•125 : 1

Your firm has a philosophy that is analogous to the hedging (maturity matching) approach. Which of the following is the most appropriate non-spontaneous form for financing the excess seasonal current asset needs? A. Trade credit. B. 6-month bank notes. C. Accounts payable. D. Common stock equity.

Description : Your firm has a philosophy that is analogous to the hedging (maturity matching) approach. Which of the following is the most appropriate non-spontaneous form for financing the excess seasonal current asset needs? ... credit. B. 6-month bank notes. C. Accounts payable. D. Common stock equity.

Last Answer : B. 6-month bank notes.

Your firm has a philosophy that is analogous to the hedging (maturity matching) approach. Which of the following is the most appropriate form for financing a new capital investme nt in plant and equipment? A. Trade credit. B. 6-month bank notes. C. Accounts payable. D. Common stock equity

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Last Answer : D. Common stock  equity. 

As per AS-14 purchase consideration is payable to _________________. (A) Shareholders (B) Creditors (C) Debenture holders (D) Bank

Description : As per AS-14 purchase consideration is payable to _________________. (A) Shareholders (B) Creditors (C) Debenture holders (D) Bank

Last Answer : Shareholders

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Description : A. Bank overdraft B. Bills Payable C. Account Payable D. Retain earning

Last Answer : D. Retain earning

A debt which is irrecoverable and is therefore written off as loss in the accounts of an institution or bank is known as __________ A. external debt B. good debt C. bad debt D. internal debt

Description : A debt which is irrecoverable and is therefore written off as loss in the accounts of an institution or bank is known as __________ A. external debt B. good debt C. bad debt D. internal debt

Last Answer : C. bad debt Explanation: The term bad debts usually refers to accounts receivable (or trade accounts receivable) that will not be collected.

Cheque deposited into Bank increases the Bank balance as per Cash Book.

Description : Cheque deposited into Bank increases the Bank balance as per Cash Book.

Last Answer : State whether the following statement are True or False with reason : Cheque deposited into Bank increases the Bank balance as per Cash Book.

When cheque is ________ into bank Cash Book is debited. 

Description : When cheque is ________ into bank Cash Book is debited. 

Last Answer : When cheque is ________ into bank Cash Book is debited. (a) written (b) issued (c) deposited (d) dishonoured

(i) Refusal by the bank to make payment of a cheque.

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Last Answer : Give one word/term/phrase which can substitute each of the following statements: (i) Refusal ... making payment to outside parties through the bank.

(i) When a bank refuses to make the payment of the cheque, it is said to be ________

Description : (i) When a bank refuses to make the payment of the cheque, it is said to be ________

Last Answer : Complete the following sentences: (i) When a bank refuses to make the payment of the cheque, ... v) _________ advance is given to the petty cashier.

A cheque received and deposited into the bank on the same day is a contra entry.

Description : A cheque received and deposited into the bank on the same day is a contra entry.

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