Instrument of exchange

Instrument of exchange

Professional Development

12 Qs

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Instrument of exchange

Instrument of exchange

Assessment

Quiz

Business

Professional Development

Practice Problem

Medium

Created by

Monique Belfon

Used 4+ times

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12 questions

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1.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Cheques are considered an _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ .

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of a cheque?

To withdraw cash

To transfer funds

To open a bank account

To apply for a loan

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

For a cheque to be cashed, the amount must be written in _ _ _ _ _ and _ _ _ _ _ _ _

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The date is important on a cheque as it typically _ _ _ _ _ _ _ after _ _ _ months.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens if a cheque is not cashed within a certain period?

It becomes void

It can be reissued

It is sent back to the drawer

It is automatically deposited

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

A cheque is a preferred method of payment as it is _ _ _ _ and _ _ _ _ _ _ _ _ _ _ _.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Kept by the person issuing the cheque after it is torn from the cheque book,

Account number

Counterfoil

The cheque book

The cash

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