Match the following terms with their correct definition.
-a bank reconciling item that must be subtracted from the unadjusted bank balance when preparing a bank reconciliation

Question

Quizplus · Accepted Answer

An outstanding cheque is a cheque that has been written and recorded in the payer's account but has not yet cleared the bank account on which it is drawn. This means the cheque amount is still reflected in the bank's balance but needs to be deducted to reconcile the account accurately.

Match the Following Terms with Their Correct Definition