Outstanding checks refer to checks that have been:
A) Written, recorded, sent to payees, and received and paid by the bank.
B) Written and not yet recorded in the company books.
C) Held as blank checks.
D) Written, recorded on the company books, sent to the payee, but have not yet been paid by the bank.
E) Issued by the bank.

Question

Quizplus · Accepted Answer

Outstanding checks are checks that have been written, recorded on the company books, and sent to the payee, but they have not yet been paid by the bank. They are also known as uncleared checks.

Outstanding Checks Refer to Checks That Have Been