MEANS OF PAYMENT

MEANS OF PAYMENT

9th - 12th Grade

14 Qs

quiz-placeholder

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MEANS OF PAYMENT

MEANS OF PAYMENT

Assessment

Quiz

Other

9th - 12th Grade

Hard

Created by

Julius Kimani

Used 34+ times

FREE Resource

14 questions

Show all answers

1.

FILL IN THE BLANK QUESTION

1 min • 1 pt

------------------------------ is where payment for goods and services is made using notes and coins.

2.

FILL IN THE BLANK QUESTION

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.

FILL IN THE BLANK QUESTION

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.

FILL IN THE BLANK QUESTION

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.

FILL IN THE BLANK QUESTION

1 min • 1 pt

A cheque is ---------------------------------- when the bank refuses to pay

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

A dishonoured cheque is also known as a -------------------------

7.

FILL IN THE BLANK QUESTION

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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