A check is said to have cleared the bank when:
A)it is returned NSF.
B)it bounces.
C)the bank withdraws the amount of the check from the check writer's account.
D)it is presented to a financial institution for deposit or cash.

Question

Quizplus · Accepted Answer

After a check is written,the payee usually presents the check to a financial institution for deposit or cash.That financial institution contacts the check writer's bank,which in turn withdraws the amount of the check from the check writer's account and reports it as a deduction on the bank statement.The check is then said to have cleared the bank.

A Check Is Said to Have Cleared the Bank When