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The drawer of a cheque is the

Economics
WAEC 1988

The drawer of a cheque is the

  • A. Person who is to be paid the sum of money as written on the cheque
  • B. Person who takes the cheque to the bank
  • C. Bank on which the cheque is drawn
  • D. Person who writes out the cheque
  • E. Bank official who certifies the payment
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Correct Answer: Option D
Explanation

The drawer is the account owner who issued the cheque (to probably a third party). The bank is the drawee, while the party who is to catch the cheque is the payee.


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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
Post UTME Past Questions Agent
Post UTME Past Questions Agent
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts