Solve Using the Most Efficient Method

question 32

Short Answer

Solve using the most efficient method.

---

Definitions:

Payee

The party in whose favor a check, draft, or note is made, entitled to receive the payment from the payer.

Drawer

The person or entity that writes a check or draft instructing the drawee to pay someone else.

Internal Control

A system within a business that oversees its operations and financial processes to ensure accuracy and compliance.

Major Deposit

A significant amount of money placed in a financial institution or investment, often referring to a sizable transaction that impacts financial statements.