Checks Outstanding Are Checks the Company Has Written That Have

question 83

True/False

Checks outstanding are checks the company has written that have not been subtracted from the bank's record of the company's balance.

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Definitions:

Outlay

The amount of money spent on a particular item or service, serving as expenses in financial transactions or projects.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing between options.

Capital

Economic resources that are used to create goods and services, such as buildings, machinery, and equipment.

Accounting Profit

Total revenue minus total explicit cost