Checks outstanding are checks the company has written that have not been subtracted from the bank's record of the company's balance.

Name: Checks outstanding are checks the company has written that have not been subtracted from the bank's record of the company's balance.
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Question

Quizplus · Accepted Answer

Checks outstanding represent a discrepancy between the company's balance according to their records and the bank's balance, as these checks have not yet cleared and been deducted from the balance.

Checks Outstanding Are Checks the Company Has Written That Have