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

Question

Quizplus · Accepted Answer

An outstanding check is a check that has been written by a company or an individual but has not yet been presented to the bank for payment. It represents an amount that has been deducted from the account balance but has not yet been cleared from the account.

Which of the Following Statements Best Describes the Term "Outstanding