Commerce WAEC

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

A. a bounced cheque
B. a bearer cheque
C. a crossed cheque
D. an order cheque

Correct Answer: Option A

A. a bounced cheque

Explanation

A bounced cheque is a cheque which is returned by a bank because the account owner does not have sufficient funds on deposit. When someone writes a cheque to someone else or to a company, that entity, in turn, deposits the cheque into the bank.

Sunday

Share
Published by
Sunday
Tags: Commerce

Recent Posts

List of Universities Offering Veterinary Medicine in Nigeria

Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…

4 months ago

List of Universities Offering Anthropology in Nigeria

Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…

4 months ago

List of Universities Offering Sociology in Nigeria

Sociology is the scientific study of human society, culture, and behavior. It examines the social…

4 months ago

List of Universities Offering Social Work in Nigeria

Social Work is a profession dedicated to helping individuals, families, and communities to cope with…

4 months ago

List of Universities Offering Religious Studies in Nigeria

Religious studies is an academic discipline that explores the beliefs, practices, and history of various…

4 months ago

List of Universities Offering Public Administration in Nigeria

Public administration is the field of study and practice that focuses on the organization and…

4 months ago