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Instrument is any source document which can be used to carry out a financial transaction. For example, Cash deposit voucher, check deposit voucher, Check are some of the instruments. Instruments includes:
- What is the transaction to be carryout (i.e Cash deposit voucher is used to deposit cash into an account)
- Value of the transaction (Amount in Figures etc...)
- Additional particulars of the transaction (Account Numbers, Names, Reference Numbers, Addresses etc...)
Instrument is a vital document for a bank because, all bank transactions are generated by an Instrument.
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