Which of the following is considered an outstanding check?

An outstanding check is defined as a check that has been written by an account holder but has not yet been presented to the bank for payment. This means that the funds have not yet been withdrawn from the account since the check hasn't cleared. When preparing bank reconciliations, outstanding checks are important to account for because they represent a liability that the company still has, and they need to be included in the reconciled bank balance.

By contrast, a check that has been cashed by the bank indicates that the check has already cleared and the funds have been deducted from the account, meaning it cannot be considered outstanding. Likewise, a check that has been deposited but is still pending is processed differently compared to an outstanding check. Finally, a reconciliation adjustment made by a bookkeeper relates to correcting discrepancies in the accounts and does not apply to the definition of an outstanding check. Thus, option B accurately captures the essence of what constitutes an outstanding check.