Multiple Choice Questions on What type of cheques is that which is issued by a firm but not deposited to the bank ........ for UPSC EPFO Exam Preparation

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Multiple Choice Questions

What type of cheques is that which is issued by a firm but not deposited to the bank ........

General Accounting Principles Bank reconciliation statement
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    What type of cheques is that which is issued by a firm but not deposited to the bank

    Uncredited cheques

    Incorrect Answer

    Outstanding cheques

    Correct Answer

    Uncollected cheques

    Incorrect Answer

    Bounced cheques

    Incorrect Answer
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    Explanation:

    Outstanding Cheques are cheques that are issued by the business but not yet presented to bank. These are those cheques against which the payment is yet to be made by the bank on the behalf of the business. They are also known as unpresented cheques.

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