Outstanding checks refer to checks that have been:
A)Written,recorded,sent to payees and received and paid by the bank
B)Written and not yet recorded in the company books
C)Held as blank checks
D)Written,then recorded on the company books and sent to the customer,supplier,or creditor,but have not yet been paid by the bank
E)Issued by the bank

Question

Quizplus · Accepted Answer

Outstanding checks are checks that have been recorded in the company books and sent to the payee but have not yet been paid by the bank. Option A refers to checks that have already been paid by the bank. Option B refers to checks that have been written but not yet recorded. Option C refers to blank checks that have not been used or written. Option E refers to checks issued by the bank, which is not the same as outstanding checks.

Outstanding Checks Refer to Checks That Have Been