Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 14 - No. 6)
Which of the following is true about an under-honored or unauthorized payment?
A payment by a cheque that is not processed
A payment for something in the accounts of the business
A cheque payment returned as unpaid
A cheque payment honored by the bank
Explanation
This is when the cheque is returned to the bank as unpaid.
Comments (0)
