Asked by ariana marie on May 14, 2024
Verified
Checks that have been processed by the bank and are no longer negotiable are:
A) outstanding checks.
B) canceled checks.
C) voided checks.
D) deposits in transit.
Canceled Checks
Checks that have been paid and processed by a bank, no longer negotiable, serving as proof of payment.
Negotiable
Capable of being transferred or exchanged with ease, often referring to financial instruments.
- Acknowledge the method of managing outstanding checks and bank charges in the context of reconciling bank accounts.
Verified Answer
KL
Katie LuebckeMay 18, 2024
Final Answer :
B
Explanation :
Canceled checks are those that have been processed by the bank, meaning they have been paid out and are no longer negotiable.
Learning Objectives
- Acknowledge the method of managing outstanding checks and bank charges in the context of reconciling bank accounts.