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Analyze the information given below, considering one of the following correct options:
A shopkeeper Sudha has to make a payment to the wholesaler and writes a cheque for a specific amount to the wholesaler. The wholesaler takes this cheque, and deposits it in his own account in the bank. The money is transferred from one bank account to another bank account in a couple of days. The transaction is completed without any payment of cash.
Analyse the information given above, considering one of the following correct option:
- a)Check payment
- b)Interest on deposits
- c)Demand deposit
- d)Money transfer
Correct answer is option 'C'. Can you explain this answer?
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Analyze the information given below, considering one of the following...
A demand deposit account (DDA) is a bank account from which deposited funds can be withdrawn at any time, without advance notice. DDA accounts can pay interest on the deposited funds but aren't required to. Checking accounts and savings accounts are common types of DDAs.
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Most Upvoted Answer
Analyze the information given below, considering one of the following...
Analysis of the given information:
1. Check payment:
The given information states that Sudha, the shopkeeper, writes a cheque to the wholesaler for a specific amount. A cheque is a negotiable instrument that instructs the bank to pay a specific amount of money from the account of the person who writes the cheque (the drawer) to the person to whom the cheque is addressed (the payee). In this case, Sudha is the drawer and the wholesaler is the payee. Therefore, the use of a cheque indicates that this is a check payment transaction.
2. Interest on deposits:
The given information does not mention anything about interest being earned or paid on any deposits. Therefore, it is not relevant to this transaction.
3. Demand deposit:
A demand deposit refers to a deposit of money that can be withdrawn by the depositor at any time without any prior notice. In this transaction, Sudha writes a cheque for a specific amount to the wholesaler. This indicates that Sudha has sufficient funds in her bank account to cover the payment. The wholesaler then deposits the cheque in his own bank account. The fact that the money is transferred from one bank account to another suggests that both Sudha and the wholesaler have demand deposit accounts.
4. Money transfer:
The given information clearly states that the money is transferred from Sudha's bank account to the wholesaler's bank account. This transfer is facilitated by the use of a cheque, which serves as a payment instrument. Therefore, the option of money transfer is applicable to this transaction.
Conclusion:
Based on the analysis of the given information, the correct option is (c) Demand deposit. This option accurately describes the nature of the bank accounts involved in the transaction, where both Sudha and the wholesaler have demand deposit accounts.
1. Check payment:
The given information states that Sudha, the shopkeeper, writes a cheque to the wholesaler for a specific amount. A cheque is a negotiable instrument that instructs the bank to pay a specific amount of money from the account of the person who writes the cheque (the drawer) to the person to whom the cheque is addressed (the payee). In this case, Sudha is the drawer and the wholesaler is the payee. Therefore, the use of a cheque indicates that this is a check payment transaction.
2. Interest on deposits:
The given information does not mention anything about interest being earned or paid on any deposits. Therefore, it is not relevant to this transaction.
3. Demand deposit:
A demand deposit refers to a deposit of money that can be withdrawn by the depositor at any time without any prior notice. In this transaction, Sudha writes a cheque for a specific amount to the wholesaler. This indicates that Sudha has sufficient funds in her bank account to cover the payment. The wholesaler then deposits the cheque in his own bank account. The fact that the money is transferred from one bank account to another suggests that both Sudha and the wholesaler have demand deposit accounts.
4. Money transfer:
The given information clearly states that the money is transferred from Sudha's bank account to the wholesaler's bank account. This transfer is facilitated by the use of a cheque, which serves as a payment instrument. Therefore, the option of money transfer is applicable to this transaction.
Conclusion:
Based on the analysis of the given information, the correct option is (c) Demand deposit. This option accurately describes the nature of the bank accounts involved in the transaction, where both Sudha and the wholesaler have demand deposit accounts.
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Analyze the information given below, considering one of the following correct options:A shopkeeper Sudha has to make a payment to the wholesaler and writes a cheque for a specific amount to the wholesaler. The wholesaler takes this cheque, and deposits it in his own account in the bank. The money is transferred from one bank account to another bank account in a couple of days. The transaction is completed without any payment of cash.Analyse the information given above, considering one of the following correct option:a)Check paymentb)Interest on depositsc)Demand depositd)Money transferCorrect answer is option 'C'. Can you explain this answer?
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Analyze the information given below, considering one of the following correct options:A shopkeeper Sudha has to make a payment to the wholesaler and writes a cheque for a specific amount to the wholesaler. The wholesaler takes this cheque, and deposits it in his own account in the bank. The money is transferred from one bank account to another bank account in a couple of days. The transaction is completed without any payment of cash.Analyse the information given above, considering one of the following correct option:a)Check paymentb)Interest on depositsc)Demand depositd)Money transferCorrect answer is option 'C'. Can you explain this answer? for Class 10 2024 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about Analyze the information given below, considering one of the following correct options:A shopkeeper Sudha has to make a payment to the wholesaler and writes a cheque for a specific amount to the wholesaler. The wholesaler takes this cheque, and deposits it in his own account in the bank. The money is transferred from one bank account to another bank account in a couple of days. The transaction is completed without any payment of cash.Analyse the information given above, considering one of the following correct option:a)Check paymentb)Interest on depositsc)Demand depositd)Money transferCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 10 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Analyze the information given below, considering one of the following correct options:A shopkeeper Sudha has to make a payment to the wholesaler and writes a cheque for a specific amount to the wholesaler. The wholesaler takes this cheque, and deposits it in his own account in the bank. The money is transferred from one bank account to another bank account in a couple of days. The transaction is completed without any payment of cash.Analyse the information given above, considering one of the following correct option:a)Check paymentb)Interest on depositsc)Demand depositd)Money transferCorrect answer is option 'C'. Can you explain this answer?.
Analyze the information given below, considering one of the following correct options:A shopkeeper Sudha has to make a payment to the wholesaler and writes a cheque for a specific amount to the wholesaler. The wholesaler takes this cheque, and deposits it in his own account in the bank. The money is transferred from one bank account to another bank account in a couple of days. The transaction is completed without any payment of cash.Analyse the information given above, considering one of the following correct option:a)Check paymentb)Interest on depositsc)Demand depositd)Money transferCorrect answer is option 'C'. Can you explain this answer? for Class 10 2024 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about Analyze the information given below, considering one of the following correct options:A shopkeeper Sudha has to make a payment to the wholesaler and writes a cheque for a specific amount to the wholesaler. The wholesaler takes this cheque, and deposits it in his own account in the bank. The money is transferred from one bank account to another bank account in a couple of days. The transaction is completed without any payment of cash.Analyse the information given above, considering one of the following correct option:a)Check paymentb)Interest on depositsc)Demand depositd)Money transferCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 10 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Analyze the information given below, considering one of the following correct options:A shopkeeper Sudha has to make a payment to the wholesaler and writes a cheque for a specific amount to the wholesaler. The wholesaler takes this cheque, and deposits it in his own account in the bank. The money is transferred from one bank account to another bank account in a couple of days. The transaction is completed without any payment of cash.Analyse the information given above, considering one of the following correct option:a)Check paymentb)Interest on depositsc)Demand depositd)Money transferCorrect answer is option 'C'. Can you explain this answer?.
Solutions for Analyze the information given below, considering one of the following correct options:A shopkeeper Sudha has to make a payment to the wholesaler and writes a cheque for a specific amount to the wholesaler. The wholesaler takes this cheque, and deposits it in his own account in the bank. The money is transferred from one bank account to another bank account in a couple of days. The transaction is completed without any payment of cash.Analyse the information given above, considering one of the following correct option:a)Check paymentb)Interest on depositsc)Demand depositd)Money transferCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 10.
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ample number of questions to practice Analyze the information given below, considering one of the following correct options:A shopkeeper Sudha has to make a payment to the wholesaler and writes a cheque for a specific amount to the wholesaler. The wholesaler takes this cheque, and deposits it in his own account in the bank. The money is transferred from one bank account to another bank account in a couple of days. The transaction is completed without any payment of cash.Analyse the information given above, considering one of the following correct option:a)Check paymentb)Interest on depositsc)Demand depositd)Money transferCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice Class 10 tests.
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