A cheque
A) Involves the writer, the signers, the casher, and the bank
B) Involves the maker, the payee, and the bank
C) Involves the maker and the payee
D) Involves the bookkeeper, the payee, and the bank
E) Involves the signer, the casher, and the company

Question

Quizplus · Accepted Answer

A cheque involves the maker, who is the person writing the cheque, the payee, who is the person to whom the cheque is written, and the bank where the cheque is deposited or cashed. The payee presents the cheque to the bank, which collects funds from the maker's account on behalf of the payee. There may be additional signers, such as joint account holders, but they are not necessarily involved in every cheque transaction. The casher is typically the bank, but it could also be a check cashing service. The writer is the same as the maker in this context. The bookkeeper is not directly involved in the cheque transaction but may record it for accounting purposes. The company is not necessarily involved in every cheque transaction.

A Cheque