Endorsing a cheque means…?
Select ONE answer:
- making it void.
- exchanging it for cash at a bank.
- relinquishing your right to receive the amount of the cheque and passing that right on to someone else.
- None of the above.
Show your workings to arrive at your answer, and explain and justify your reasons:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
This multiple choice question is suitable for Accounting KS5 classes.
The answer is 3
- Making a Cheque void is known as ‘cancelling’ it.
- Exchanging a cheque for cash at a bank is known as ‘cashing’ the cheque.
- Correct
- Not correct
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