Bank Reconciliation Statement – MCQs with Answers – Quiz 2

Bank Reconciliation Statement – MCQs with Answers

Bank Reconciliation Statement is a very helpful tool for businesses to keep a check on their financial 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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11. Bank reconciliation represents:

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5. The payment side of cash book is understated by Rs.200.:

Correct! Wrong!

1. Bank reconciliation statement is :

Correct! Wrong!

7. An amount of Rs.50 debited by bank as bank charges:

Correct! Wrong!

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13. Bank Reconciliation Statement is a:

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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!

2. Unfavorable balance of pass book means:

Correct! Wrong!

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15. Causes of discrepancies are shown by:

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10. The periodical returns sent by bank to customer is called:

Correct! Wrong!

8. Favorable bank balance means:

Correct! Wrong!

9. When bank column of cash book shows a debit balance, it means:

Correct! Wrong!

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12. Bank reconciliation statement is prepared by:

Correct! Wrong!

4. Disagreement balance of cash book and pass book is known through:

Correct! Wrong!

14. Unfavorable balance means:

Correct! Wrong!

Bank Reconciliation Statement MCQs with Answers Quiz # 2
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