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WAEC Commerce 2019 Question 22

Question 22

Banking

Use the diagram (a cheque: XYZ Bank of Commerce PLC, 55 Jones Road, Freetown, 18/06/2016, 'Pay Peter Saidy or Order the sum of Sixty thousand leones', Le 60,000.00, SIGN: Oki Williams) to answer the question. XYZ Bank of Commerce PLC is the

Diagram for this question
  1. A.payee.
  2. B.endorser.
  3. C.drawer.
  4. D.drawee.
Show the answer and explanation

Answer: D (drawee.)

Explanation

The bank on which a cheque is drawn, and which pays it, is the drawee.