JAMB Accounting 2007 Objective — Question 40

Question 40 of 46 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2007 Objective paper, with the correct answer and a full explanation.

The process whereby a cheque received by one person is given to another for payment is known as

A. cheque crossing
B. payment in cheque
C. cheque transfer
D. cheque endorsementCorrect

Explanation

Endorsement is the process where the holder of a cheque signs it over, transferring the right to receive payment to another person.

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