Unpresented checks also referred as____________?
Correct answer: C. Outstanding checks
- A. Uncollected checks
- B. Uncredited checks
- C. Outstanding checks
- D. Bounced checks
Explanation
An unpresented check has been issued but has not yet been presented to the bank for payment, so it remains an outstanding check. Uncollected or uncredited checks refer to deposits not yet cleared by the bank.
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About Accounting Principles
Accounting principles explain the rules used to record, classify and report business transactions. Coverage includes the accounting equation, double-entry system, accrual and cash bases, matching and prudence concepts, consistency, going concern, business entity, and the difference between capital and revenue items.
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More Accounting Principles questions
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