Outstanding checks:
A) are the checks that are returned to the payor
B) have been presented to the bank and paid
C) have not been received and processed by the bank
D) are the bank's checks

Question

Quizplus · Accepted Answer

Outstanding checks are checks that have been issued and recorded by the payor but have not yet been presented to the bank for payment or have been presented but have not yet cleared the bank. They are still considered a liability until they are processed by the bank.

Outstanding Checks