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WAEC Commerce 2002 Question 42

Question 42

Banking

Which of the following types of cheque protects the holder against the risk of loss?

  1. A.Open cheque
  2. B.Bearer cheque
  3. C.Post dated cheque
  4. D.Crossed cheque
Show the answer and explanation

Answer: D (Crossed cheque)

Explanation

A crossed cheque must be paid into a bank account, so a thief cannot cash it over the counter.