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WAEC Commerce 1995 Question 36

Question 36

Banking

A cheque drawn by a bank on itself is a

  1. A.credit transfer
  2. B.direct debt
  3. C.certified cheque
  4. D.bankdraft
  5. E.standing order
Show the answer and explanation

Answer: D (bankdraft)

Explanation

A bank draft is a cheque drawn by a bank on itself, so it is very unlikely to be dishonoured.