passwella.
Menu

WAEC Commerce 2019 Question 21

Question 21

Banking

Use the diagram (a cheque: XYZ Bank of Commerce PLC, 55 Jones Road, Freetown, 18/06/2016, 'Pay Peter Saidy or Order the sum of Sixty thousand leones', Le 60,000.00, SIGN: Oki Williams) to answer the question. The diagram above shows a

Diagram for this question
  1. A.standing order.
  2. B.receipt.
  3. C.cheque.
  4. D.bill of exchange.
Show the answer and explanation

Answer: C (cheque.)

Explanation

It is a written order to a bank to pay a named person a sum of money, signed by the account holder: a cheque.