Payment in accordance with apparent tenor means

a.

The Payee needs to follow the instruction given by drawer for dealing with cheque.

b.

The Payee needs to follow the instruction given by drawee for dealing with cheque.

c.

The drawee needs to follow the instruction given by drawer for dealing with cheque.

d.

The drawer needs to follow the instruction given by drawee for dealing with cheque.

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Question 23

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Special endorsement is done when

a.

Endorsee signs the back of cheque and writes the name of endorser

b.

Endorser signs the back of cheque and does not write the name of endorsee

c.

Endorsee signs the back of cheque and does not write the name of endorser

d.

Endorser signs the back of cheque and writes the name of endorsee

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Question 24

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Identify which one of the following is not a feature of Central Bank?

a.

Central Banks also play very important role in economic activities

b.

Central Banks have more profit motive than service motive

c.

Central Banks control the complete banking industry in the country

d.

Central banks are owned by the government