Advantages:
Disadvantages:
a. We must always keep track of our bank balance before issuing a check. Issuing a check without sufficient balance in the account is a felony
b. Checks can be lost or stolen and the customer must be careful to not let that happen.
Some disadvantages are:You may lose the cheque or it might be stolenThe cheque issuer may not have sufficient balance in his acc to honor the cheque
Payment by cheque has several disadvantages, including the potential for delays in processing, as it can take time for the cheque to clear. There is also a risk of fraud or theft, as cheques can be altered or forged. Additionally, if the payer does not have sufficient funds, the cheque may bounce, leading to additional fees and complications for both parties involved. Lastly, cheque payments can be less convenient compared to digital payment methods, which offer quicker and easier transactions.
The advantages are that you will be able to get more things for the business. The disadvantages are that they are a lot of costs.
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Some disadvantages are:You may lose the cheque or it might be stolenThe cheque issuer may not have sufficient balance in his acc to honor the cheque
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