Which of the following statements best describes the term "outstanding check" from a company's point of view?
A)A check written by the company and presented to the bank for payment.
B)A check written by the company but not yet presented to the bank for payment.
C)A check written by a customer to the company, and the check has been presented to the bank for payment.
D)A check written by a customer to the company, but it has not yet been presented to the bank for payment.

Question

Quizplus · Accepted Answer

An outstanding check refers to a check that has been written by the company but has not yet been presented to the bank for payment. This means that the funds for that check are still considered as available in the company's account until the check is presented and cleared by the bank.

Which of the Following Statements Best Describes the Term "Outstanding