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      Question

      Which among the following is issued in order to meet any

      future obligation for payment to a person?
      A Self cheque Correct Answer Incorrect Answer
      B Post-dated cheque Correct Answer Incorrect Answer
      C Bearer cheque Correct Answer Incorrect Answer
      D Crossed Cheque Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      A post-dated cheque is issued to the beneficiary in order to meet any future obligation for payment. The cheque remains valid from the date of the cheque till three months. A self cheque is such that it can be used by the account holder to withdraw money whereas a bearer cheque is such that it is paid to any person who presents the instrument at the bank. A crossed cheque is defined as an instrument which can be issued to transfer funds directly to the account of the payee.

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