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WAEC Commerce 1991 (August) Question 37

Question 37

Banking

When a customer writes a cheque to withdraw cash from his current account, he is both the

  1. A.drawer and the payee
  2. B.drawee and the payee
  3. C.drawer and the debtor
  4. D.drawer and the creditor
  5. E.drawee and the debtor
Show the answer and explanation

Answer: A (drawer and the payee)

Explanation

He writes the cheque (drawer) and receives the money (payee); the bank is the drawee.