The checks that have been paid by the bank on behalf of the depositor, which are included with the bank statement, are called:
A)outstanding checks.
B)canceled checks.
C)checks in transit.
D)NSF checks.

Question

Quizplus · Accepted Answer

Checks that have been paid by the bank on behalf of the depositor and included with the bank statement are called canceled checks. Outstanding checks are checks that have been written but have not yet been presented to the bank for payment. Checks in transit are checks that have been deposited but have not yet been cleared by the bank. NSF checks refer to checks that have been returned due to insufficient funds.

The Checks That Have Been Paid by the Bank on Behalf