Alpha Company has an account at First Bank.Alpha writes a check payable to Beta Company.In this transaction,Beta Company is the:
A)payee.
B)payer.
C)drawer.
D)maker.

Question

Quizplus · Accepted Answer

Beta Company is the payee, as they are the recipient of the funds from the check written by Alpha Company. The payer is the party writing the check, which is Alpha Company. The drawer is also Alpha Company in this case, as they are the entity responsible for drawing or creating the check. The maker is another term for the drawer in the context of check writing.

Alpha Company Has an Account at First Bank