estion 48

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Which of the following is not true for Saving Account?

a.

Interest paid on deposit

b.

No requirement for maintaining balance

c.

No restrictions on deposit and withdrawal

d.

More suitable for low income group of people

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Question 49

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Identify which one of the following is the duty of drawer of cheque?

a.

Receiving a payment on cheque

b.

Depositing the cheque

c.

A bank employee, who is making payment

d.

Ordering the bank to make the payment

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Question 50

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Ali finalized a business deal with Shams enterprises. Ali issued advance cheque as a payment to Shams enterprises. Later the business deal got cancelled. Ali already issued the advance cheque. Ali called the bank immediately and asked for the cancellation of cheque, the bank is going to mark

a.

Lunacy of payment

b.

Insolvency of cheque

c.

Countermanding of payment

d.

Garnishee of cheque