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WAEC Commerce 1991 (August) Question 84

Question 84

Banking

When an order cheque is endorsed it becomes

  1. A.a bearer cheque
  2. B.a certified cheque
  3. C.an open cheque
  4. D.a confirmed cheque
  5. E.a dishonoured cheque
Show the answer and explanation

Answer: A (a bearer cheque)

Explanation

A blank endorsement (payee signs the back) makes an order cheque payable to whoever holds it.