Economics · Banking System
Which of the following options best defines a 'cheque'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A plastic card used for revolving credit transactions
- 2An unconditional order in writing directing a bank to pay a specific sum from a person's account✓
- 3A loan agreement issued directly by a bank
- 4A type of interest-bearing savings account
Correct answer
An unconditional order in writing directing a bank to pay a specific sum from a person's account
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