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A promissory note is drawn by in favor of

This question belongs to Commerce Accounting
Accounting
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A promissory note is drawn by ______ in favor of _____

Answer & Solution
Correct Answer: Option B
A promissory note is drawn by Maker in favor of Payee. Maker or Drawer is the person who makes or draws the promissory note. He is also called the promisor. Drawee or Payee is the person in whose favour the promissory note is drawn.
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3 Comments
AASHAQ
AASHAQ 4 months ago
both A and B
Daniyal Khan
Daniyal Khan 3 years ago
Drawn by darwer in favour of payee is most correct because in usual, maker is not a sensible term
Ramesh Chilaka
Ramesh Chilaka 8 years ago
Option D is also correct
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