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      Question

      What are Hundies? 

      A Cheque Correct Answer Incorrect Answer
      B Utility Bill Correct Answer Incorrect Answer
      C Bill of Lading Correct Answer Incorrect Answer
      D Demand Draft Correct Answer Incorrect Answer
      E Bill of Exchange Correct Answer Incorrect Answer

      Solution

      Hundis are used as a form of remittance instrument to transfer money from place to place, as a form of credit instrument or IOU to borrow money and as a bill of exchange in trade transactions.

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