Which One of the Following Statements Best Describes the Term

question 158

Multiple Choice

Which one of the following statements best describes the term "outstanding check?"

• 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 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.

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Definitions:

Income

Money received, especially on a regular basis, for work, through investments, or from benefits, that may be subject to taxes.

Services

Economic activities that result in intangible benefits or outputs, such as consulting, banking, or repair work.

Property

Assets owned by a person or a company, encompassing both physical objects and intellectual property.

Life Insurance Proceeds

The money paid to the beneficiaries of a life insurance policy when the insured person passes away.