Which of the following statements is not true of cheques? They

The statement "cheques are legal tender" is not true. Cheques are a type of negotiable instrument that serve as a written order to a bank to pay a specific amount of money from a person's account to another person or organization. However, they are not considered legal tender, which refers to a form of payment that is accepted by law to settle a debt. Legal tender typically includes cash or coins issued by the government, and it is the only form of payment that creditors are required to accept. While cheques are a widely accepted form of payment, they are not considered legal tender, and creditors have the right to refuse them if they choose to do so.