A type of cheque where the holder is paid the amount, across the counter of bank.

Cross cheque

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Bearer cheque

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Payee cheque

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None of the above

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Solution

The correct option is A Bearer cheque
An open cheque is the bearer cheque. It is payable over the counter on presentment by the payee to the paying banker. While a crossed cheque is not payable over the counter but shall be collected only through a banker.

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Similar questions

Record the following transactions of Mr. Chavan in a cash book with cash and bank columns for the month April. 2011.

2011 Apr.
1	Cash Balance Rs 56,000 Bank overdraft Rs 11,000.
3	Purchased goods for Rs 13,000 for cash at 2% cash discount.
6	Received a bearer cheque for Rs 13,250 in full settlement of Rs 13,500 from Govind Traders.
9	Purchased 100 shares of Amar Ltd. of Rs 100 each at Rs 110 each and paid by cheque the
	amount immediately.
11	Sold goods of Rs 7,000 at 5% cash discount to Pramod and he paid half the amount immediately.
14	Deposited into bank Rs 11,000.
17	Received a crossed cheque for Rs 18,000 from Gajanan Traders.
20	Bank paid our telephone bill Rs 3,230.
21	Bank charged Rs 540 as interest on overdraft.
22	Paid by cheque to Urmila Rs 8,000.
25	Deposited into bank the cheque received from Govind Traders.
27	Received a bearer cheque for Rs 3,460 for rent which was deposited into bank.
29	Bank informed that the cheque received for rent was dishonoured.
30	Paid life insurance premium of Mr. Chavan Rs 4,250 by cash and electricity bill Rs 7,400 by cheque.

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