Examlex
For each of the following, identify in Column 1 the category to which the account belongs, in Column 2 the normal balance for the account, in Column 3 the financial statement in which the account balance is reported, and in Column 4 the account's nature (permanent/temporary).
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Liable
Being legally responsible or obligated to make amends for harm caused to another person or property.
Drawee
The party upon whom a check, draft, or other negotiable instrument is drawn and is expected to pay.
Drawer
In banking and finance, the person who writes or issues a check or draft.
Payee
The individual or entity to whom a payment is made or owed, especially noted in the context of checks or promissory notes.
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