It is not necessary to record dishonour of cheques in the cash book.

It is not necessary to record dishonour of cheques in the cash book.
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State whether the following statement are True or False with reason : It is not necessary to record dishonour of cheques in the cash book.
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If you want to ensure that your money will be secured if cheques sent are wasted in the post, you should A) Always pay by cash B) Cross your Cheques ‘Account Payee only, Not Negotiable.’ C) Always get the money in person D) Not use the postal service in future

Description : If you want to ensure that your money will be secured if cheques sent are wasted in the post, you should A) Always pay by cash B) Cross your Cheques ‘Account Payee only, Not Negotiable.’ C) Always get the money in person D) Not use the postal service in future

Last Answer : Answer: B

What is a dishonour of cheque?

Description : What is a dishonour of cheque?

Last Answer : What is a dishonour of cheque?

RBI has eased norms in cheque dishonour cases of Rs ______ and above. A) 50 lakh B) 1 crore C) 1 lakh D) 10 crore E) 5 crore

Description : RBI has eased norms in cheque dishonour cases of Rs ______ and above. A) 50 lakh B) 1 crore C) 1 lakh D) 10 crore E) 5 crore

Last Answer : B) 1 crore Explanation: Relaxing chequebook norms, the Reserve Bank today left it to the lender s discretion on whether to issue fresh chequebooks or not in cases of dishonour of Rs 1 crore and ... valuing Rs 1 crore and above on four occasions during a financial year for want of sufficient funds.

The endorser expresses that he/she would not be liable for any expenses incurred by endorsee or any holder, in case of dishonour of the instrument the endorsement is called __________ A. Restrictive Endorsement B. Partial Endorsement C. Conditional Endorsement D. Facultative Endorsement E. Sans recourse Endorsement

Description : The endorser expresses that he/she would not be liable for any expenses incurred by endorsee or any holder, in case of dishonour of the instrument the endorsement is called ... Endorsement B. Partial Endorsement C. Conditional Endorsement D. Facultative Endorsement E. Sans recourse Endorsement

Last Answer : E. Sans recourse Endorsement Explanation: The endorser expresses that he would not be liable for any expenses incurred by endorsee or any holder, in case of dishonour of the instrument the endorsement is called Sans recourse Endorsement.

Notice of dishonour must be given A. To the drawer and drawee only B. To the drawer, acceptor and endorser(s) only C. To all the parties liable on the instrument or to their duly authorized agent D. To all the parties who are secondarily liable on the instrument or to their duly authorized agent

Description : Notice of dishonour must be given A. To the drawer and drawee only B. To the drawer, acceptor and endorser(s) only C. To all the parties liable on the instrument or to their duly ... agent D. To all the parties who are secondarily liable on the instrument or to their duly authorized agent

Last Answer : D. To all the parties who are secondarily liable on the instrument or to their duly authorized agent

The indorser is excluded from his liability for dishonour of instrument towards his subsequent holder in case of A. Sans Recourse Endorsement B. Facultative Endorsement C. Sans Frais Endorsement D. None of the above.

Description : The indorser is excluded from his liability for dishonour of instrument towards his subsequent holder in case of A. Sans Recourse Endorsement B. Facultative Endorsement C. Sans Frais Endorsement D. None of the above.

Last Answer : B. Facultative Endorsement

Exemplary damages are not awarded in such case (a) Breach of promise to marry (b) Wrongful dishonour & customers cheque by banker (c) Breach of any business contract (d) None of the above

Description : Exemplary damages are not awarded in such case (a) Breach of promise to marry (b) Wrongful dishonour & customers cheque by banker (c) Breach of any business contract (d) None of the above

Last Answer : (c) Breach of any business contract

(i) In the cash book of a trader Bank record the entries.

Description : (i) In the cash book of a trader Bank record the entries.

Last Answer : Do you agree or disagree with the following statements: (i) In the cash book of a trader Bank ... to deposit a cheque or cash into a bank account.

(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.

what is the purpose of preparation of supplementary Cash Book a. record the transaction of closing days of March from sub office b record the transaction of closing days of March from Head Office c. record the transaction of closing days of March and first working day from sub office

Description : what is the purpose of preparation of supplementary Cash Book a. record the transaction of closing days of March from sub office b record the transaction of closing days of March from Head Office c. record the transaction of closing days of March and first working day from sub office

Last Answer : a. record the transaction of closing days of March from sub office

What is the name of entry which is used in Bank Column cash book to record the money transaction?

Description : What is the name of entry which is used in Bank Column cash book to record the money transaction?

Last Answer : Contra entry

How can my employer send me signed cheques from Korea ?

Description : How can my employer send me signed cheques from Korea ?

Last Answer : Yes he is able to have a digital signature developed and when he submits his authorizion and signoff for the payables processed while he is gone and when you print the checks the signature will appear on the checks.

Write a short note on 'cheques'. -SST 10th

Description : Write a short note on 'cheques'. -SST 10th

Last Answer : A deposit in a Bank offers the customer the facility of issuing cheques. A cheque is a paper instructing the bank to pay a specific amount from the person's account to the person in whose name ... any payment of cash. This is a safe mode of transferring money avoiding the possibility of any theft.

Large amount of cheques are processed by using (a) OCR (b) MICR (c) OMR (d) All of the above -Technology

Description : Large amount of cheques are processed by using (a) OCR (b) MICR (c) OMR (d) All of the above -Technology

Last Answer : (b) Large amount of cheques are processed by the MICR (Magnetic Ink Character Recognition). It can read characters that are printed using a special magnetic ink. It is mostly used in banks.

Bouncing of cheques has become an offence -General Knowledge

Description : Bouncing of cheques has become an offence -General Knowledge

Last Answer : The answer is '6 months imprisonment'

Bouncing of cheques has become an offence. What is the punishment for the same? -Do You Know?

Description : Bouncing of cheques has become an offence. What is the punishment for the same? -Do You Know?

Last Answer : answer:

Bouncing of cheques has become an offence. What is the punishment for the same? -General Knowledge

Description : Bouncing of cheques has become an offence. What is the punishment for the same? -General Knowledge

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In case of a company, “Buy Back” is related to– (A) Prospectus (B) Shares (C) Debentures (D) Cheques

Description : In case of a company, “Buy Back” is related to– (A) Prospectus (B) Shares (C) Debentures (D) Cheques

Last Answer : Answer: Shares

"Legal Tender Money" refers to : (1) Cheques (2) Drafts (3) Bill of exchange (4) Currency notes

Description : "Legal Tender Money" refers to : (1) Cheques (2) Drafts (3) Bill of exchange (4) Currency notes

Last Answer : (4) Currency notes Explanation: Legal tender is a medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation. Paper currency and coins are common ... tender in many countries. Legal tender money is a type of payment that is protected by law.

Bank money refers to - (1) currency notes (2) coins (3) gold bullions (4) cheques

Description : Bank money refers to - (1) currency notes (2) coins (3) gold bullions (4) cheques

Last Answer : (4) cheques Explanation: There are two types of money in a fractional-reserve banking system, currency originally issued by the central bank, and hank deposits at commercial banks: (1) ... created in the banking system through borrowing and lending) - sometimes referred to as chequebook money.

The permission given to a bank customer to draw cheques in excess of his current account balance is called - (1) a personal loan (2) an ordinary loan (3) discounting a bill of exchange (4) an overdraft

Description : The permission given to a bank customer to draw cheques in excess of his current account balance is called - (1) a personal loan (2) an ordinary loan (3) discounting a bill of exchange (4) an overdraft

Last Answer : (4) an overdraft Explanation: Overdrafts is an extension of credit from a lending institution when an account reaches zero. An overdraft allows the individual to continue withdrawing money even if the ... available balance goes below zero. In this situation the account is said to be "overdrawn."

The bank cheques are processed by using - (1) OCR (2) MICR (3) OMR (4) PMR

Description : The bank cheques are processed by using - (1) OCR (2) MICR (3) OMR (4) PMR

Last Answer : (2) MICR Explanation: Magnetic Ink Character Recognition, or MICR, is a character recognition technology used primarily by the banking industry to facilitate the processing of cheques and makes up the ... are printed in special typefaces with a magnetic ink or toner, usually containing iron oxide.

The law regarding negotiable instruments is contained in __________ A. The Bill of exchange Act 1881 B. The Banking Regulation Act 1949 C. Cheques Act, 1881 D. The Negotiable Instruments Act, 1881

Description : The law regarding negotiable instruments is contained in __________ A. The Bill of exchange Act 1881 B. The Banking Regulation Act 1949 C. Cheques Act, 1881 D. The Negotiable Instruments Act, 1881

Last Answer : D. The Negotiable Instruments Act, 1881 Explanation: The Negotiable Instruments Act, 1881 – An Act to define and Law relating to negotiable instruments which are Promissory Notes, Bills of Exchange and cheques.

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Description : Alterations, if any, on cheques are required to be authenticated by the signature of _______ A. Payee B. Depositor C. Drawer D. Endorse E. All of the above

Last Answer : C. Drawer Explanation: Alterations, if any, on cheques are required to be authenticated by the drawer‘s signature against each such alteration.

What is difference between banks & HFCs? A. HFCs cannot accept demand deposits B. It cannot issue cheques drawn on itself C. deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of HFCs D. All of the Above E. None of the Above

Description : What is difference between banks & HFCs? A. HFCs cannot accept demand deposits B. It cannot issue cheques drawn on itself C. deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of HFCs D. All of the Above E. None of the Above

Last Answer : D. All of the Above Explanation: HFCs are doing functions similar to banks as banks also provides housing loans. However, there are a few differences as given below: ♦ HFCs cannot accept demand ... Credit Guarantee Corporation(DICGC) is not available to depositors of HFCs, unlike in case of banks.

Which of the following section of Negotiable Instruments Act, 1881 deals with Cheques? A. Section 4 B. Section 5 C. Section 6 D. Section 7 E. None of the Above

Description : Which of the following section of Negotiable Instruments Act, 1881 deals with Cheques? A. Section 4 B. Section 5 C. Section 6 D. Section 7 E. None of the Above

Last Answer : C. Section 6 Explanation: The section 6 of the Negotiable Instruments Act, 1881 deals with Cheques.

Bouncing of cheques has become an offence. What is the punishment for the same?

Description : Bouncing of cheques has become an offence. What is the punishment for the same?

Last Answer : 6 months imprisonment

Money order payable to a person who is not permanent resident within the jurisdiction of office of payment a) Will not be paid b) Payment will be made only through cheques c) Payment will be made only by the postmaster d) Can be paid in the normal course on satisfactory proof of identity of the person in the MO

Description : Money order payable to a person who is not permanent resident within the jurisdiction of office of payment a) Will not be paid b) Payment will be made only through cheques c) Payment will be made only ... d) Can be paid in the normal course on satisfactory proof of identity of the person in the MO

Last Answer : d) Can be paid in the normal course on satisfactory proof of identity of the person in the MO

ACG 28 denotes ----------- a. Register of dishonoured Cheque b. Register of cheques received and cleared c. None of these

Description : ACG 28 denotes ----------- a. Register of dishonoured Cheque b. Register of cheques received and cleared c. None of these

Last Answer : b. Register of cheques received and cleared

Q6 All cheques , Bills etc preferable at a treasury for payment being non negotiable instruments can be endorsed only once .The above said statement isa. True b. False

Description : Q6 All cheques , Bills etc preferable at a treasury for payment being nonnegotiable instruments can be endorsed only once . The above said statement is a. True b. False

Last Answer : a. True

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

E‐cheques are ………………… a.Prepaid b.Postpaid c. Both prepaid and postpaid

Description : E‐cheques are ………………… a.Prepaid b.Postpaid c. Both prepaid and postpaid

Last Answer : a.Prepaid

The bank cheques are processed by using (1) OCR (2) MICR (3) OMR (4) PMR

Description : The bank cheques are processed by using (1) OCR (2) MICR (3) OMR (4) PMR 

Last Answer : MICR

Bank money refers to (1) currency notes (2) coins (3) gold bullions (4) cheques

Description : Bank money refers to (1) currency notes (2) coins (3) gold bullions (4) cheques

Last Answer : cheques

“Legal Tender Money” refers to : (1) Cheques (2) Drafts (3) Bill of exchange (4) Currency notes

Description : “Legal Tender Money” refers to : (1) Cheques (2) Drafts (3) Bill of exchange (4) Currency notes

Last Answer : Currency notes

The permission given to a bank customer to draw cheques in excess of his current account balance is called (1) a personal loan (2) an ordinary loan (3) discounting a bill of exchange (4) an overdraft

Description : The permission given to a bank customer to draw cheques in excess of his current account balance is called (1) a personal loan (2) an ordinary loan (3) discounting a bill of exchange (4) an overdraft

Last Answer : an overdraft

In processing of cheques which of the following technology is helpful to the banks ?

Description :  In processing of cheques which of the following technology is helpful to the banks ?  a) OMR b) Barcode c) MICR d) OCR

Last Answer :  In processing of cheques which of the following technology is helpful to the banks ?  a) OMR b) Barcode c) MICR d) OCR

The ordinary examination of financial statements is not primarily designed to disclose defalcations and other irregularities although their discovery may result. Normal audit procedures are more likely to detect a fraud arising from a. Theft of inventories. b. Collusion on the part of several employees. c. Failure to record cash receipts for services rendered. d. Forgeries on company checks

Description : The ordinary examination of financial statements is not primarily designed to disclose defalcations and other irregularities although their discovery may result. Normal audit procedures are more likely to ... . Failure to record cash receipts for services rendered. d. Forgeries on company checks

Last Answer : Theft of inventories

The ordinary examination of financial statements is not primarily designed to disclose defalcations and other irregularities although their discovery may result. Normal audit procedures are more likely to detect a fraud arising from a. Collusion on the part of several employees. b. Failure to record cash receipts for services rendered. c. Forgeries on company checks. d. Theft of inventories

Description : The ordinary examination of financial statements is not primarily designed to disclose defalcations and other irregularities although their discovery may result. Normal audit procedures are more likely to ... receipts for services rendered. c. Forgeries on company checks. d. Theft of inventories

Last Answer : Theft of inventories

Form ACG 33 is related with a. Cash Abstract in head Record b. HO Summary c. TCB

Description : Form ACG 33 is related with a. Cash Abstract in head Record b. HO Summary c. TCB

Last Answer : a. Cash Abstract in head Record

he journal entry to record a credit sale is a. Cash Sales b. Cash Service Revenue c. Accounts Receivable Service Revenue d. Accounts Receivable Sales

Description : he journal entry to record a credit sale is a. Cash Sales b. Cash Service Revenue c. Accounts Receivable Service Revenue d. Accounts Receivable Sales

Last Answer : d. Accounts Receivable Sales

The entry to record the receipt of payment within the discount period on a sale of $750 with terms of 2/10, n/30 will include a credit to a. Sales Discounts for $15. b. Cash for $735. c. Accounts Receivable for $750. d. Sales for $750.

Description : The entry to record the receipt of payment within the discount period on a sale of $750 with terms of 2/10, n/30 will include a credit to a. Sales Discounts for $15. b. Cash for $735. c. Accounts Receivable for $750. d. Sales for $750.

Last Answer : c. Accounts Receivable for $750.

The office of delivery after making necessary entries in the trial card received will return the trail card it by a) Ordinary post as unregistered article b) Keep it for its office record c) Including it in a service cover addressed to the officer who posted it d) Regd. Post duly enclosed in a service cover

Description : The office of delivery after making necessary entries in the trial card received will return the trail card it by a) Ordinary post as unregistered article b) Keep it for its office record c) Including ... cover addressed to the officer who posted it d) Regd. Post duly enclosed in a service cover

Last Answer : c) Including it in a service cover addressed to the officer who posted it

Which of the following entry will be made in BO a) To invoice remittance noting the details of cash( including stamps) sent to the branch office b) To confirm the accuracy of the daily account last received from the BO by entering the balance in words and figure of last BO daily account c) To Note the particulars of articles, documents, account office receipts, sent to the branch office. d) To give instructions to the BPM whenever necessary e) All the above

Description : Which of the following entry will be made in BO a) To invoice remittance noting the details of cash( including stamps) sent to the branch office b) To confirm the accuracy of the daily account last ... to the branch office. d) To give instructions to the BPM whenever necessary e) All the above

Last Answer : e) All the above

The_______ of an office will ordinarily be a sum equal to the average _________multiplied by the number of days in which funds can be obtained, plus a percentage of the average ___________(if necessary), as a margin – the amount of which will depend upon the extent of the difference between the receipts and payments, and other considerations a) Minimum cash balance , daily payments, daily payments a) Maximum cash balance , daily payments, daily payments a) Minimum cash balance , daily payments, daily receipts a) None of these

Description : The_______ of an office will ordinarily be a sum equal to the average _________multiplied by the number of days in which funds can be obtained, plus a percentage of the average ___________(if ... payments, daily payments a) Minimum cash balance , daily payments, daily receipts a) None of these

Last Answer : a) Minimum cash balance , daily payments, daily payments