which of the following is not a party to a check? bank, holder,maker, or payee
which of the following is not a party to a check? bank, holder,maker, or payee
Homework Answers
| which of the following is not a party to a check? | |
| Ans: | holder |
| Explanation:- | A Check is an instrument which is used to make payments. A Check is drawn on a bank with which the maker (drawer) of check has an account and having funds in the account. The check orders the bank to pay the specific amount written on the check to the person in whose favor the check is issued i.e. the payee of the check. Thus there are three parties to a check, maker (also called drawer), bank (also called drawee) and payee. Holder is not a party to a check. |
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which of the following is not a party to a check? bank,
holder,maker, or payee
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46 When a bank collects a note for the holder, it notifies the holder on a...
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46. When a bank collects a note for the holder, it notifies the holder on a form called a 47.A $5,000, 12% note is dated April 10 and is due in 90 days. The due date would be 48. When the holder of an interest-bearing note is unable to collect the note when due, the journal entry includes 49. Face value of a note plus interest is called the -50. The adjusting entry for accrued interest on a notes...
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Question 38 The maker of a note is the party to whom payment is to be made Not yet answered Select one: Marked out of 1.00 True Remove flag False
46 When a bank collects a note for the holder, it notifies the holder on a form called a 87)55,000, 12% note is dated April 10 and is due in 90 days. The due date would be 4e When the holder of an interest-bearing note is unable to collect the note when due, the jo entry includes 49. Face value of a note plus interest is called the The adjusting entry for accrued interest on a notes receivable includes 51....
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