MANAGEMENT

Detailed explanation-1: -A bounced check occurs when the writer of the check has insufficient funds available to fulfill the payment amount on the check to the payee. When a check bounces, it is not honored by the depositor’s bank and may result in overdraft fees and banking restrictions.

Detailed explanation-2: -A bounced check is one that gets rejected because it can’t be processed, either because the account associated with it did not have sufficient funds or due to an error with how the check was written.

Detailed explanation-3: -True. An individual can “bounce a check” if he/she has sufficient funds in a checking account.

Detailed explanation-4: -Insufficient funds If you write a check for $1, 500, but you have only $1, 000 in the bank, it will bounce when the payee tries to cash it because you don’t have enough funds to cover the amount written on the check. You will probably pay a penalty fee to your bank for writing a rubber check.

Detailed explanation-5: -Although, there are several cheque bounce reasons to be considered such as incorrect date mentioned on the cheque, signature mismatch, mismatch of the amount and figures, damaged cheque, overwriting of the cheque, etc. The principal reason for a cheque bounce is insufficient funds.