When reconciling your bank statement, outstanding checks should be deducted from the balance shown on your bank statement.

Name: When reconciling your bank statement, outstanding checks should be deducted from the balance shown on your bank statement.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Outstanding checks are those that have been issued but have not yet cleared the bank. Therefore, they need to be deducted from the balance shown on your bank statement to get an accurate balance of your available funds.

When Reconciling Your Bank Statement, Outstanding Checks Should Be Deducted