Can any body answer me what is the logic of writing A/c's
payee over the corner of the cheque?
- 5 Answers
- 7403 Views
- I also Faced
- E-Mail Answers
Answer Posted / h.r. sreepada bhagi
Putting 2 parallel lines across the cheque on the left hand
top corner with or with out writing something inside is
called Crossing under the Negotiable Instrument.
If a cheque is crossed, it can only be credited to the
account of the payee & can not be en-cashed over the
counter. If a cheque is written to any one but is not
crossed, it can be en-cashed over the counter. To draw cash
from ones own a/c Self Cheque is issued. To enable another
person to draw cash from one's a/c Uncrossed cheque can be
issued.
Purpose of crossing a cheque is security (i.e. prevention of
misuse and wrongful en-cashment). If an uncrossed cheque is
lost or misplaced, there is a chance of it's en-cashment by
any one who finds it, as the banker can not and is not
required to ensure the identity of the person en-cashing it.
However a crossed cheque can be endorsed in favour of
another party/person as mentioned in teh Negotiable
Instruments Act.
| Is This Answer Correct ? | 5 Yes | 0 No |
Post New Answer View All Answers
please specify some books name in preparing a bank exam apttirutude questions
fd redeem interest and principal entry in tally
how to maintain stock if any entry mismatch pllzz tell me short cut
Whether the TIN and CST no. remain same for a firm in M.P. state. If a firm ask for CST but having only TIN no. is it correct to entertain his invoice?
credit card entry in tally
impairment & Amortisation Means
please send me last 3 years question & solution
what is general HR?
Dear all We have purchases the dialer & loger with all equipement for setup new call center from simens ltd. i taken to in our books as plant & machinary under fixed assets .So we want the rate of deprecation. Please answered me .
WHAT IS THE DIFFERENCE BETWEEN PUBLIC COMPANY AND PRIVATE COMPANY? MUTUAL FUNDS? GOOD WILL? ABOUT YOUR PROJECTS?
Dear Friends, Please help me with the below, I am new to the current company and newly accountant. My question is, In Balance sheet, Cash in Drawer is showing excess amount and I could not tally it with sales. Please guide me how do I need to tally CASH IN DRAWER? I don't want to reconcile. I only want to tally. Please help. Thanks in advance.
Could u show me the sample TDS Document / Template
What are the question asked for accounts associate
wat is the fundamental analysys& technical analasys?and wat is the difference bewween fundamental analysys&technical analasys?
What is contract accounting?
