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Bank Reconciliation Statement – MCQs with Answers
Bank Reconciliation Statement is very helpful tool for businesses to keep a check on their finacial transactions with banks. we simply define it as ” A summary of banking and business activity that reconciles an entity’s bank account with its financial records. The statement outlines the deposits, withdrawals, and other activities affecting a bank account for a specific period.”
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8. Favorable bank balance means:
Correct!
Wrong!
3. In adjusting the Cash Book balance one of the following is not taken into account.
Correct!
Wrong!
6. An amount of Rs.1000 is debited twice in bank statement, the effect of it on cash book:
Correct!
Wrong!
11. Bank reconciliation represents:
Correct!
Wrong!
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10. The periodical returns sent by bank to customer is called:
Correct!
Wrong!
1. Bank reconciliation statement is :
Correct!
Wrong!
13. Bank Reconciliation Statement is a:
Correct!
Wrong!
4. Disagreement balance of cash book and pass book is known through:
Correct!
Wrong!
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7. An amount of Rs.50 debited by bank as bank charges:
Correct!
Wrong!
5. The payment side of cash book is understated by Rs.200.:
Correct!
Wrong!
14. Unfavorable balance means:
Correct!
Wrong!
12. Bank reconciliation statement is prepared by:
Correct!
Wrong!
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2. Unfavorable balance of pass book means:
Correct!
Wrong!
15. Causes of discrepancies are shown by:
Correct!
Wrong!
9. When bank column of cash book shows a debit balance, it means:
Correct!
Wrong!
Bank Reconciliation Statement MCQs with Answers Quiz # 1
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