Future Business Leaders of America (FBLA) Accounting Practice Test

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Prepare for the FBLA Accounting Test with practice quizzes and comprehensive questions. Each question is designed to help deepen your understanding and enhance your readiness for the exam. Are you ready to excel?

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Who is the drawer on a check?

The bank where the check is deposited
The person who signs the check
The person receiving the check
The banker processing the check

The correct answer is: The person who signs the check

The drawer on a check is the individual or entity who signs the check, authorizing the bank to pay the specified amount to the payee. This person effectively provides their account's funds to the payee, making them the initiator of the transaction. Understanding the role of the drawer is crucial in the context of check processing. This person possesses an account at a financial institution, and their signature represents consent for the disbursement of funds. The bank, while essential in processing and transferring the funds, does not initiate the transaction and therefore is not the drawer. The payee is the recipient of the check and does not have authority over the funds until they are processed and deposited. Similarly, the banker involved in processing the check acts as an intermediary and does not hold the position of the drawer. This differentiation among roles is key to grasping how checks function in financial transactions.