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WAEC Commerce 1997 Question 43

Question 43

Banking

Which of the following indicates special crossing on a cheque? Two parallel lines with

  1. A."& Co" and "not negotiable"
  2. B.the abbreviation "& Co" only
  3. C."account payee" only
  4. D.the name of a particular bank
  5. E."not negotiable" only
Show the answer and explanation

Answer: D (the name of a particular bank)

Explanation

A cheque with a special crossing can be paid only through the bank whose name is written between the parallel lines.