STALE CHECK Definition

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STALE CHECK is a check that is six months or older than the date affixed to the check by the maker. If a customer's check is presented more than six months after the date appearing on the check, the paying bank has the option of paying or dishonoring the check because the check is deemed "stale".

Learn new Accounting Terms

POST is the transfer of accounting entries from a journal of original entry into a ledger book, in chronological order according to when they were generated.

SAMPLING RISK is the possibility that conclusions drawn from the sample may not represent correct conclusions for the entire population.

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