A cheque is a bill of exchange drawn on
Answer and explanation
Correct answer: B. a bank and payable on demand
- Step 1: A cheque is an order to a banker to pay on demand. Answer: a bank and payable on demand. Why not the others: a company and payable in 30 days: That would be an ordinary trade bill. an individual and payable on a future date: A cheque is drawn on a banker. a government and payable in cash only: That is not a cheque.
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