A shopkeeper Sudha has to make payment to the wholesaler and writes a cheque for a specific amount to the wholesaler. The wholesaler takes this cheque and deposits it in his own account in the bank. The money is transferred from one bank account to another bank account in a couple of days. The transaction is completed without any payment of cash.
Analyse the information given above, considering one of the following correct options: A. Check payments B. Interest on deposits C. Demand deposit D. Money transfer
The right answer is given as Option C. Why is Option A not the right answer?
