Business Studies

___________ is used for depositing cheque and cash into a bank account.


ANSWER

Pay-in-slip


SOLUTION
  • Pay-in-slip is also called as a deposit slip. When a person deposits cheque or cash into a bank account, pay-in slip is filled in. It has the details viz account number, amount, date, etc. Depositor need not be account holder.
  • Withdrawal slip is used to withdraw money from an account with a bank. Signature of account holder is necessary to withdraw money.
  • Cheque is an instrument that is provided to an account holder to transact through his/her bank account. It is used to withdraw cash from account, and pay off debts.
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