Q.(a) Explain the features of a Cheque.

(a) A cheque is an unconditional written order on a specified bank to pay a certain sum on demand to a named person or bearer, signed by the drawer, with three parties and the option of crossing. (b) Training aims to raise skill, productivity and quality, cut accidents and wastage, lift morale and prepare employees for advancement.

(a) Features of a Cheque

A cheque is a bill of exchange drawn on a specified banker and payable on demand. Its main features are:

1. Drawn on a specified banker – a cheque is always drawn on a particular bank where the drawer has an account.
2. Unconditional order – it contains an unconditional order to pay, not a mere request.
3. Certain sum of money – it is payable in money only, and the amount must be certain (written in words and figures).
4. Payable on demand – it is always payable on demand, not after a fixed period.
5. In writing – it must be in writing (printed/typed/handwritten), not oral.
6. Signed by the drawer – it must be signed by the account holder (drawer).
7. Three parties – there are three parties: the Drawer (account holder), the Drawee (the bank) and the Payee (the person to be paid).
8. Payee is certain – it is payable to a specified person or his order, or to the bearer.
9. May be crossed – a cheque can be crossed to make payment safer (paid only through a bank account).

(b) Purpose of Training

Training is the process of increasing the knowledge and skill of employees for a particular job. Its purposes are:

1. Improve knowledge and skills – equip employees with the up-to-date skills the job requires.
2. Increase productivity and efficiency – trained workers produce more and better output in less time.
3. Improve quality – reduce defects and maintain uniform standards of work.
4. Reduce accidents, wastage and spoilage – safe and correct methods lower mishaps and waste of materials.
5. Boost morale and job satisfaction – confident, competent employees are more satisfied and motivated. …