Understanding Cheques and Their Functions

The video tutorial provides an overview of cheques, discussing their purpose and key features. It explains the role of cheques in financial transactions and highlights important aspects to consider when using them.

What is the primary purpose of a cheque?

• To serve as a receipt

• To provide a loan

• To act as a credit card

• To transfer money

Which of the following is a key feature of a cheque?

• It is a form of investment

• It is a type of bond

• It is a digital currency

• It is a written order

Who is the issuer of a cheque?

• The drawer

• The bank

• The endorser

• The payee

What must be present on a cheque for it to be valid?

• A signature

• A photograph

• A hologram

• A barcode

What is the final step in the cheque process?

• Clearing

• Endorsement

• Issuance

• Deposit