Banking Transaction
Commercial banks give the facility of remittance or money from one place to another, through:
Cheques
Overdraft
Bank draft
None of them
Bank draft
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A bank performs certain functions for the benefit of general public which are called us:A. Primary function
B. General utility function
C. Agency functions
D. Secondary function
The act of singing on the bank of the cheque in order to transfer it to someone else is called:
A. Crossing
B. Endorsement
C. Drafting
D. None of them
An institution which purchases and sells money and transacts other financial business of like nature is called:
A. College
B. Bank
C. Hospital
D. Manufacturing
In the books of a bank, whenever an account is opened the customer is finished with a:
A. Bank-pass book
B. Cheque book
C. Pay-in-slip
D. None of them
When the cheque is not paid by the drawee bank, it is said to be?
A. Honored
B. Dishonored
C. Endorsed
D. None of them
When a customer is authorized to borrow up to an agreed amount in excess of the customers bank balance, it will be called?
A. Bank overdraft
B. Bank under draft
C. Bank balance
D. None of them
When banks act as agents of their customers and tender great service in that capacity these are?
A. Primary function
B. General utility function
C. Agency functions
D. Secondary function
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