Checks presented for payment and paid by the bank are known as
A)certified checks.
B)NSF checks.
C)outstanding checks.
D)canceled checks.

Question

Quizplus · Accepted Answer

Checks presented for payment and paid by the bank are known as canceled checks. Certified checks are guaranteed by the bank, NSF (non-sufficient funds) checks are not paid due to insufficient funds in the account, and outstanding checks are checks that have been written but not yet cleared by the bank.

Checks Presented for Payment and Paid by the Bank Are