An Outstanding Check Is a Check That

question 163

Multiple Choice

An outstanding check is a check that

• A)has been presented to the bank for payment but has not been reported on the bank statement.
• B)has been written by the account holder but has not been presented to the bank for payment.
• C)is guaranteed for payment by the bank.
• D)has been written for an amount that is greater than the balance in the account holder's bank account.

Acknowledge the characteristics and valuation of assets.

Understand the implications of liabilities and equity on a company's financial health.

Recognize the importance and components of the statement of changes in equity.

Learn about the relationship between expenses, revenues, assets, and liabilities.

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