BANKING AFFAIRS

Detailed explanation-1: -A cashier’s check is guaranteed by the banking institution and signed by a bank cashier, which means the bank is responsible for the funds. This type of check is often required in large transactions, such as buying a car or house.

Detailed explanation-2: -You can usually cash a cashier’s check at the issuing bank, regardless of the amount it’s drawn for once you endorse it, even if you don’t have an account there. Alternatively, it’s possible to cash a cashier’s check at a check-cashing store, but there might be a fee.

Detailed explanation-3: -Credit transactions are never recorded in cash book.

Detailed explanation-4: -Books, ledgers and registers maintained by a bank Current account ledger. Savings account ledger. Fixed deposit ledger. ledger cash book.