Which of the following describes a feature of a 'Cancelled' check?

A 'Cancelled' check refers to a check that has been marked in such a way that it can no longer be used for cashing or depositing. This is typically done to indicate that the check should not be processed through the banking system, often because it has already been cleared and settled, or it was not used for its intended purpose.

When a check is cancelled, it reflects that the transaction is complete and the funds have already been disbursed or that the check has been deemed invalid for some reason, such as being a duplicate or issued by mistake. Consequently, option C accurately captures the essence of a 'Cancelled' check by emphasizing its inability to be cashed or deposited.

The other options suggest scenarios that do not align with the typical understanding of a cancelled check. For instance, a check that has been automatically voided, authorized for reissue, or reported lost may involve different processes and implications regarding the status of the check, but these situations do not reflect the standard definition and feature of a cancelled check.