What is a cheque payment?

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A paper instructing the bank to pay

A simple paper which has no value

Money

None of the above

answer is A.

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Detailed Solution

A cheque is a paper that instructs the bank to pay a specific amount to the payee from the payer's account. The payee is the person to whom the payment is made, and the payer is the person who pays the amount to the payee. A cheque is a rectangle-shaped, legally approved paper which contains the following things.
1)      Name of the payee
2)      Account number of the payer
3)      Name of the bank along with its logo and branch code
4)      Amount in words and in numeric
5)      IFSC and MICR code

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