Choose the given statement is True/False

Bond is a paper that instructs a bank to pay a specific amount from a person’s account to another person in whose name the bond is being issued.

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

True

False

answer is B.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

The given statement is False.
A chequebook is a compact book or folder that contains preprinted paper money that checking account customers use to make purchases of goods and services. Account holders may utilise the consecutively numbered checks in a chequebook as a bill of exchange. The account holder's name, address, and other identifying information are often preprinted on the checks. Each check will also have the routing number for the bank, the account number, and the check number. While bonds are a sort of security, the issuer (the debtor) of a bond owes the bondholder (the creditor) a debt. Depending on the conditions, it is required to return the bond's principal (i.e., the amount borrowed) at the bond's maturity date and interest over a certain period.
The correct statement is that a cheque is a paper that instructs a bank to pay a specific amount from a person's account to another person whose name the bond is being issued.

Watch 3-min video & get full concept clarity