Question

The three parties involved with a check are:

a.The bookkeeper, the payee, and the bank.
b.The maker, the payee, and the bank.
c.The writer, the cashier, and the bank.
d.The maker, the manager, and the payee.
e.The signer, the cashier, and the company.

Answer 1

The correct answer to the question is (b) The maker, the payee, and the bank. These are the three parties involved with a check where the maker writes the check, the payee receives payment, and the bank conducts the transaction.

Step-by-step explanation:

The three parties involved with a check are (a) The bookkeeper, the payee, and the bank. The three parties typically involved with a check are the maker or drawer, the payee, and the bank. The maker or drawer is the person who writes the check, authorizing the transfer of funds from their account. The payee is the individual or entity to whom the check is written, and they are the recipient of the funds specified on the check.

Finally, the bank holds the funds and facilitates the financial transaction when the payee cashes or deposits the check. Checks serve as a paper-based method for individuals and businesses to conduct transactions without needing to handle physical cash for every payment.