Crossed cheque - SS2 Commerce Past Questions and Answers - page 1
What does a crossed cheque signify?
It can be cashed directly at the counter
It can only be deposited into a bank account
It is invalid and cannot be used for payment
What is the difference between general crossing and special crossing?
General crossing allows cashing at any bank, while special crossing is restricted to a specific bank.
General crossing restricts payment to a specific bank, while special crossing allows cashing at any bank.
General crossing requires the cheque to be deposited in a specific bank, while special crossing allows cashing at any bank.
What does it mean if a cheque has a general crossing?
It can only be deposited into a bank account.
It is invalid and cannot be used for payment.
It can only be deposited into a bank account.
What does a special crossing on a cheque indicate?
The cheque can only be deposited into a bank account.
The cheque should be deposited in a specific bank mentioned.
The cheque can be cashed at any bank branch.
Why are crossed cheques used?
To make it easier to cash the cheque at any bank branch.
To restrict payment to a specific bank.
To make the cheque invalid and unusable.
What is the purpose of crossing a cheque?
Can a crossed cheque be cashed at any bank branch?