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JSS2: BUSINESS STUDIES – 2ND TERM

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  1. Bank Services | Week 1
    8 Topics
    |
    1 Quiz
  2. Insurance | Week 2
    7 Topics
    |
    1 Quiz
  3. Personal Qualities of an Entrepreneur | Week 3
    1 Topic
    |
    1 Quiz
  4. Business Opportunities | Week 4
    2 Topics
    |
    1 Quiz
  5. Consumer Rights and Responsibilities | Week 5
    2 Topics
    |
    1 Quiz
  6. Shopping Tips | Week 6
    4 Topics
    |
    1 Quiz
  7. Bookkeeping Ethics I | Week 7
    2 Topics
  8. Bookkeeping Ethics II | Week 8
    2 Topics
    |
    1 Quiz
  9. Ledger Entries | Week 9
    3 Topics
    |
    1 Quiz
  10. Petty Cash Book | Week 10
    7 Topics
    |
    1 Quiz



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Topic Content:

  • Parties of a Cheque
  • Types of Cheques
cheque

A cheque is an instruction to the bank to pay a stated amount from a current account to the person named on it.

Parties of a Cheque:

We have 3 parties to a cheque. These are:

1. Payee: The person whose name is written on the cheque, that is the person to whom the cheque is payable.

2. Drawer: The owner of the current account, that is, the person who issued and signed the cheque.

3. Drawee: The bank from where the money is cashed. This is the bank whose name is printed on the cheque, e.g. Union Bank, Ecobank, First Bank, etc.

Types of Cheques:

There are different types of cheques and they include;

1. Open cheque:

An open cheque is a cheque without lines drawn across its face. It can be cashed easily over the bank counter.  

2. Order Cheque:

 

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