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WAEC Commerce 2016 Question 3

Question 3

Banking

Another term for a dishonoured cheque is

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

Answer: B (a bounced cheque.)

Explanation

A cheque the bank refuses to pay is said to have 'bounced'.