which of the following is used for making payments to many people in a single cheque
Question 1 Report
which of the following is used for making payments to many people in a single cheque
Answer Details
The option used for making payments to many people in a single cheque is a "bank draft". A bank draft is a payment order issued by a bank to pay a specified amount to the person or organization listed on the draft. It is similar to a cashier's check, but it is drawn on the bank's funds rather than the purchaser's funds. Bank drafts are commonly used for large transactions and purchases, such as buying a car or paying for a home renovation project. They can also be used to make payments to multiple parties, as the bank can split the total amount into separate payments and send them to the designated recipients.
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