A Check Written by a Company but Not Yet Presented

question 172

True/False

A check written by a company but not yet presented to the bank for payment is called a check in transit.

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Definitions:

Labor Dispute

A disagreement between employees and employers related to employment conditions, compensation, rights, or union activities.

Settlement Recommendations

Advised solutions or agreements proposed to resolve disputes, often within a legal or formal conflict resolution process.

Arbitration

A dispute resolution process where an impartial third party makes a decision to settle a dispute outside of court.

Dispute Resolution

The process of resolving disagreements through negotiation, mediation, arbitration, or legal means.