Checks Presented for Payment and Paid by the Bank Are

question 160

Multiple Choice

Checks presented for payment and paid by the bank are known as

• A)certified checks.
• B)NSF checks.
• C)outstanding checks.
• D)canceled checks.

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Definitions:

Negligence Theory

A legal principle asserting that a defendant's failure to exercise reasonable care under the circumstances results in unintentional harm to another party.

Impropriety

Inappropriate or unethical behavior or conduct.

Embezzling Funds

The act of dishonestly withholding assets for the purpose of conversion of such assets, by one or more individuals to whom the assets were entrusted, typically to be held or used for other purposes.

Accountant Liability

The legal responsibility of accountants to perform their duties accurately and competently, facing potential legal repercussions for negligence or misconduct.