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O-LevelCommerceBanking7100/11 · Oct/Nov 2023 · Q331 Mark

What is an advantage of using a cheque to pay a debt?

AIt can be made out for any amount.
BIt is accepted as a means of payment everywhere.
CIt must be taken to a bank to be paid in.
DIt must be cleared before the money can be used.

✓ Correct answer

A: It can be made out for any amount.

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About this question

Topic
Banking, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source
O-Level Commerce, Oct/Nov 2023 Paper 1 Variant 1, question 33.

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