Home › CBSE Class 11 (Commerce) › Business Studies › Business Services › Which instrument do banks use to transfer funds …
Which instrument do banks use to transfer funds between places for a nominal commission?
ABank draft
BDebenture
CTreasury bill
DShare warrant
Answer & Solution
Correct answer: A. Bank draft
Banks remit funds using bank drafts, pay orders or mail transfers for a small charge.
Related questions
Why might a business use a warehouse before transport?Which goods need warehouse storage to mature?Warehouses usually have loading docks accessible to which vehicles?In India a warehouse may be called what?What is a building for storing goods called?What is a definite loss in insurance?Which purchase is generally not considered insurable?Which principle makes several insurers share one loss?