Outstanding Checks

question 178

Multiple Choice

outstanding checks

• A)added to the company's books
• B)subtracted from the company's books
• C)added to the bank statement balance
• D)subtracted from the bank statement balance

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Definitions:

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money to the bearer on demand or at a set time.

Substitute

An alternative option or something that replaces another.

Cash

Physical form of currency, such as coins and banknotes, used to conduct transactions or stored as a financial asset.

Transferable

Pertaining to assets or rights that can be legally transferred from one party to another.