GK
BANKING AWARENESS AND SEBI
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
The Negotiable instrument is ____
|
|
Cheque
|
|
|
Demand Draft
|
|
|
Bill of Exchange
|
|
|
All of the above
|
Explanation:
Detailed explanation-1: -The negotiable instrument is all the given options, i.e., promissory note, cheque, and bill of exchange. A negotiable instrument is a piece of paper that, following the Negotiable Instrument Act of 1881, entitles a person to a quantity of money and is transferable from one person to another.
Detailed explanation-2: -A crossed cheque can only be paid in account & hence it is not a negotiable instrument.
Detailed explanation-3: -Personal checks. Traveler’s checks. Money order. Promissory notes. Certificate of Deposit (CD)
There is 1 question to complete.