Checks presented for payment and paid by the bank are known as
A) Canceled checks
B) Certified checks
C) NSF checks
D) Outstanding checks

Question

Quizplus · Accepted Answer

Canceled checks are checks that have been processed and paid by the bank. Certified checks are checks that have been verified by the bank as having sufficient funds, but they are not presented for payment. NSF checks are checks that are returned unpaid due to insufficient funds. Outstanding checks are checks that have been issued but have not yet been presented for payment.

Checks Presented for Payment and Paid by the Bank Are