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WAEC Commerce 2000 Question 25

Question 25

Banking

When a customer writes a cheque in his own name and withdraws cash with it from his account he is both the

  1. A.drawee and the payee
  2. B.drawer and the payer
  3. C.drawee and the drawer
  4. D.drawer and the payee
Show the answer and explanation

Answer: D (drawer and the payee)

Explanation

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