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.

---

Definitions:

Sodium

A soft, silvery-white, highly reactive metal and an essential element in animal nutrition, symbolized as Na.

Nitrogen

A colorless, odorless, tasteless gas that constitutes about 78% of the Earth's atmosphere; it is a critical element in the makeup of amino acids, proteins, and nucleic acids.

Ionic Compound

A substance made up of positively and negatively charged ions that are combined in a ratio to neutralize the charges.

Bromine

A reddish-brown liquid at room temperature, with the elemental symbol Br, and atomic number 35; it is a halogen and is used in various industrial applications.