Checks presented for payment and paid by the bank are known as

Question

Quizplus · Accepted Answer

Checks that have been presented for payment and cleared by the bank are returned to the account holder as canceled checks. These checks serve as proof of payment and can be used for record keeping and to dispute any discrepancies in the account. Certified checks are checks that the bank has guaranteed funds for, NSF checks are checks that have bounced due to insufficient funds, and outstanding checks are checks that have been issued but not yet cleared by the bank.

Checks Presented for Payment and Paid by the Bank Are