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Bills of Exchange MCQs
Who is authorised to draw a bill of exchange?
7. Who is authorised to draw a bill of exchange?
- Creditor
- Drawer
- Accountant
- Debtor
Answer: B) Drawer
Explanation:
The drawer is the party that gives a bill of exchange - the 'loan boss'; the recipient or payee is the party to which the bill of trade is payable; the drawee is the party to which the request to pay is sent - 'the borrower'.