The counterfoil of a cheque book enables the drawer to

Assessment: WAEC SSCE - Commerce - 1999 (Objective) Subject: Commerce

Question 1 Report

The counterfoil of a cheque book enables the drawer to
Answer Details
The counterfoil of a cheque book enables the drawer to reconcile his/her book of accounts. A counterfoil is a detachable part of a cheque that contains a record of the cheque issued, including the date, amount, and recipient's name. By keeping the counterfoil, the drawer can keep track of all cheques issued and reconcile them with the bank statement to ensure that all cheques have been accounted for and no fraudulent activity has occurred. This helps to maintain accurate financial records and prevent errors or discrepancies in the accounts.
Read lesson note on Purchase And Sale Of Goods (JAMB)
Read lesson note on Commerce (JAMB)
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