Which of the following requires payment into the payee's account?

Assessment: JAMB UTME - Commerce - 2007 Subject: Commerce

Question 1 Report

Which of the following requires payment into the payee's account?
Answer Details
The option that requires payment into the payee's account is a "crossed cheque". A crossed cheque is a type of cheque that has two parallel lines drawn on the left-hand top corner of the cheque. It indicates that the cheque cannot be encashed at the counter of the bank, and the funds must be deposited directly into the payee's bank account. The purpose of the crossed cheque is to provide an additional level of security against fraud and ensure that the money goes directly to the intended recipient.
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