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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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9. When bank column of cash book shows a debit balance, it means:
Correct!
Wrong!
3. In adjusting the Cash Book balance one of the following is not taken into account.
Correct!
Wrong!
15. Causes of discrepancies are shown by:
Correct!
Wrong!
8. Favorable bank balance means:
Correct!
Wrong!
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5. The payment side of cash book is understated by Rs.200.:
Correct!
Wrong!
12. Bank reconciliation statement is prepared by:
Correct!
Wrong!
10. The periodical returns sent by bank to customer is called:
Correct!
Wrong!
7. An amount of Rs.50 debited by bank as bank charges:
Correct!
Wrong!
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2. Unfavorable balance of pass book means:
Correct!
Wrong!
1. Bank reconciliation statement is :
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Wrong!
11. Bank reconciliation represents:
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Wrong!
13. Bank Reconciliation Statement is a:
Correct!
Wrong!
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14. Unfavorable balance means:
Correct!
Wrong!
6. An amount of Rs.1000 is debited twice in bank statement, the effect of it on cash book:
Correct!
Wrong!
4. Disagreement balance of cash book and pass book is known through:
Correct!
Wrong!
Bank Reconciliation Statement MCQs with Answers Quiz # 1
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