A cheque crossed as ‘Payees a/c only” is direction to
A. The payee not to negotiate the cheque.
B. The paying banker to ensure that the proceeds of the cheque are credited to the payees a/c only.
C. The collecting banker to ensure that the proceeds of the cheques are collected for the account of the payee only.
D. None of the above
Answer: Option C
Related Questions on Banking Awareness miscellaneous
A. Bombay Stock Exchange
B. Delhi Stock Exchange
C. Calcutta Stock Exchange
D. Bangalore Stock Exchange
Which of the following is not a function of General Insurance?
A. Cattle Insurance
B. Crop Insurance
C. Fire Insurance
D. Medical Insurance
Liability- side of the balance-sheet comprises:
A. Capital and reserve
B. Long-term liabilities
C. Current liabilities
D. All of the above
Join The Discussion