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.
Share QOTD
Popular Blog
Paris Olympics 2024: Brief History of Olympics, Winners at Paris Olympics, Related Facts
Read More
Highlights of Union Budget 2024-25
Read More
Highlights of Interim Budget 2024
Read More
150+ Paryayvachi Shabd in Hindi - पर्यायवाची शब्द
Read More
Comments