A cheque, which becomes payable to the person or organization whose name is specified on the cheque is known as-
Answer
Correct Answer : a ) Order Cheque
Explanation :A cheque, which becomes payable to the person or organization whose name is specified on the cheque is known as an order cheque.
The word ‘bearer’ is cancelled or strike out on this type of cheque.
This type of cheque can be encashed only by the payee, whose name has been mentioned in the cheque.
The bank will conduct its background check to authenticate the identity of the cheque holder before releasing the payment.
Hence, option (a) is correct.
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Word Of The Day
Indigenous
Originating in a particular country or region.
Native to a particular country or region.
Produced, Grown, Developed or occurring naturally in a region.
If we refer to something or someone as indigenous, it means that those things belong to the country in which they are found instead of being imported or brought from an external country.
"We went to the farm and saw many indigenous varieties of Apple."
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