alleryWhile collecting a cheque for a customer, the bank acts as:
ADebtor and creditor
BAgent and principal
CTrustee and beneficiary
DLessor and lessee
Answer & Solution
Correct answer: B. Agent and principal
1. The question asks: While collecting a cheque for a customer, the bank acts as.
2. Correct answer: Agent and principal.
3. In cheque collection the bank acts as the customer's agent.
_Source: BOI Quick Revision — General Banking & Financial Awareness (2020), Banker-Customer_
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