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WAEC Commerce 1997 Question 4

Question 4

Banking

If Ade issues a Union Bank cheque to Chukwu, the Union Bank is the

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

Answer: A (drawee)

Explanation

The bank on which a cheque is drawn is the drawee; Ade is the drawer and Chukwu the payee.