If Sam Writes a Check Drawn on His Account at First

question 67

Multiple Choice

If Sam writes a check drawn on his account at First Bank to Towers University to pay his tuition:

• A)Sam is the drawer.
• B)the university is the drawee.
• C)the bank is the payee.
• D)Sam is the maker.

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Definitions:

Common Stock

Equity securities that represent ownership in a corporation, giving holders voting rights and a share in the company's profits via dividends.

Outstanding

Unsettled or remaining due; not yet paid, resolved, or completed.

Stock Split

A decision by a company to increase the number of its outstanding shares by issuing more shares to current shareholders.

Common Stock

An equity ownership interest in a corporation, typically entitling the owner to vote on corporate governance matters and receive dividends.