In a check transaction,the party who has a checking account and writes the check is the ________,the financial institution upon which the check is written is the ________,and the party to whom the check is written is the ________.
A) drawee; drawer; payee
B) drawer; drawee; payee,
C) payee; drawee; drawer
D) payee; drawer; drawee
E) drawer; payee; drawee

Question

Quizplus · Accepted Answer

The party who has a checking account and writes the check is the drawer, the financial institution upon which the check is written is the drawee, and the party to whom the check is written is the payee. Therefore, the best choice is B, which correctly identifies the drawer, drawee, and payee in a check transaction.

In a Check Transaction,the Party Who Has a Checking Account