MEANS OF PAYMENT
Quiz
•
Other
•
9th - 12th Grade
•
Hard
Julius Kimani
Used 34+ times
FREE Resource
14 questions
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1.
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1 min • 1 pt
------------------------------ is where payment for goods and services is made using notes and coins.
2.
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1 min • 1 pt
A ----------------------------------- is a written order by the account holder to his bank to pay on demand a specified amount of money to the named person or to the bearer
3.
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1 min • 1 pt
An -------------------------------- can be cashed over the counter i.e. the payee can receive cash when/she presents the cheque to the drawee (bank).
4.
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1 min • 1 pt
A --------------------------------- must be deposited in payee’s bank account i.e. when the payee takes the cheque to the bank, the bank increases the money in his/her account
5.
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1 min • 1 pt
A cheque is ---------------------------------- when the bank refuses to pay
6.
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1 min • 1 pt
A dishonoured cheque is also known as a -------------------------
7.
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1 min • 1 pt
----------------------------------------- is an unconditional order, made in writing, addressed by one person to another, requiring the person to whom it is addressed to pay on demand, or at a stated future date, the sum of money indicated on the bill to a named person or to the bearer.
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