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2 cards from this section. Quick, good the night before a test.
What is a cheque?
Think of it as instructing the bank on how to transfer money.
Who receives the money when a cheque is deposited?
Consider who is getting the payment.
What does a cheque instruct a bank to do?
Focus on the purpose of writing a cheque.
True or False: A cheque can only be deposited in the payer's bank.
Think about who receives the funds after the cheque is deposited.
Discuss the potential consequences for a business if they solely relied on cash instead of cheques for payments.
Consider the reliability and security of payments.
If a factory processes payments through cheques and one cheque is lost in the system, how could this impact the financial stability of the factory?
Think about how essential reliable payment records are for business operations.
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