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Q.

A ____ is a facility offered by demand deposits.


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Detailed Solution

A cheque is a facility offered by demand deposits.
Demand deposits are the deposits demanded by depositors when they require money to settle payments. Demand deposits provide the cheque facility, a paper instructing the bank to transfer the mentioned amount of money from the person’s account to the person whose name the cheque has been issued. A cheque is a credit instrument that qualifies demand deposits as a form of money used for settling payments.
 
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