What is cheque book? Explain any two types of cheques.

1.	What is cheque book? Explain any two types of cheques.
Answer» A book provided by the bank to the account holder through which the account holder can make payment to another person or institution is called cheque book. Two types of cheques: 1. Cross cheque - When by drawing two diagonal lines from the left top side of the cheque, and is written “account pay only”, then it is called a cross cheque. 2. Open cheque – When no other line has been put on the left side while giving the cheque and the name of the person concerned is written in the pay column, then it is called open cheque.

Answer»

A book provided by the bank to the account holder through which the account holder can make payment to another person or institution is called cheque book.

Two types of cheques:

1. Cross cheque - When by drawing two diagonal lines from the left top side of the cheque, and is written “account pay only”, then it is called a cross cheque.

2. Open cheque – When no other line has been put on the left side while giving the cheque and the name of the person concerned is written in the pay column, then it is called open cheque.

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