Cheque is presented with Payeess a/c only for OMR 50 in a bank. It means the

a.

Cheque is crossed and cash payment is not allowed

b.

Cheque is order and payment is not allowed

c.

Cheque is crossed and allowed for cash payment

d.

Cheque is bearer and cash payment is not allowed

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Mr. Munir Akram received a crossed cheque for 10000 OMR for goods sold. He presented the cheque in the bank on the same date mentioned on the cheque. What formalities should be done before making payment?

a.

Drawee should receive the payment

b.

Payee should put his signature on the back of the cheque

c.

Drawer should come himself to get the payment

d.

Cheque should be deposited in payees account

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Central Bank of Oman maintains adequate foreign exchange reserve. The aim is to bring:

a.

No change in the value of local currency

b.

Increase the value of foreign currency

c.

Increase in the value of local currency

d.

Decrease in the value of local currency