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WAEC Commerce 2015 Question 20

Question 20

Banking

A cheque which the bank refused to pay because the drawer had insufficient funds in his account is

  1. A.a bounced cheque.
  2. B.a bearer cheque.
  3. C.a crossed cheque.
  4. D.an order cheque.
Show the answer and explanation

Answer: A (a bounced cheque.)

Explanation

A cheque refused for lack of funds is dishonoured, or 'bounced'.