When a cheque is issued,the party being paid the cash is referred to as the:
A)payee.
B)depositor.
C)bank signatory.
D)drawer.

Question

Quizplus · Accepted Answer

The payee is the party being paid the cash through the cheque. The depositor is the person who deposits the cheque in their bank account, while the bank signatory is the authorized person who can sign cheques on behalf of the bank. The drawer is the person who writes and signs the cheque, authorizing payment to the payee.

When a Cheque Is Issued,the Party Being Paid the Cash