A ________ Is the Party That Give the Order and the ________

question 8

Multiple Choice

A ________ is the party that give the order and the ________ is the party that must obey that order.

• A) drawer, drawee
• B) drawee, drawer
• C) payee, payer
• D) payer, payee
• E) draftee, drafter

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Definitions:

Cash Balance

The amount of cash on hand at any given time in a company's financial accounts.

End of the Period

A term referring to the conclusion of a specific accounting period, at which financial statements are prepared.

Statement of Cash Flows

A financial report that details the amount of cash and cash equivalents entering and leaving a company.

Long-term Assets

Assets intended for use over an extended period, typically exceeding one year, such as buildings, machinery, or land.