which of the following is used for making payments to many people in a single cheque
-
A.
debit transfer -
B.
certified cheque -
C.
bank draft -
D.
credit transfer
Correct Answer: Option C
Explanation
A banker’s draft is a cheque provided to a customer of a bank or acquired from a bank for remittance purposes, that is drawn by the bank, and drawn on another bank or payable through or at a bank. A normal cheque represents an instruction to transfer a sum of money from the drawer’s account to the payee’s account.