Which Statement Regarding Cheques Is INCORRECT

question 53

Multiple Choice

Which statement regarding cheques is INCORRECT?

• A)Cheques were once the principal form of payment order.
• B)The cheque verification process means that funds are not credited to the depositor's account for several days.
• C)Cheques are authorised by the drawer's signature.
• D)Cheques are a written instruction.
• E)Cheque payments can be dishonoured.

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Definitions:

Rigidity

Refers to inflexibility or stiffness in materials, or metaphorically to strictness in methods, rules, or systems.

Formalism

A philosophical and critical framework emphasizing form over content in various arts, mathematics, and science.

Kant's Philosophy

A philosophical doctrine by Immanuel Kant emphasizing rationality, ethics, and a categorical imperative guiding moral actions.

End Justifies

A philosophical principle suggesting the morality of an action can be determined by its outcome or intended result.