Financial Accounting

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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3. In adjusting the Cash Book balance one of the following is not taken into account.

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

Correct! Wrong!

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

Correct! Wrong!

14. Unfavorable balance means:

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13. Bank Reconciliation Statement is a:

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2. Unfavorable balance of pass book means:

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11. Bank reconciliation represents:

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

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15. Causes of discrepancies are shown by:

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6. An amount of Rs.1000 is debited twice in bank statement, the effect of it on cash book:

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8. Favorable bank balance means:

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1. Bank reconciliation statement is :

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

Correct! Wrong!

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

Correct! Wrong!

12. Bank reconciliation statement is prepared by:

Correct! Wrong!

Bank Reconciliation Statement MCQs with Answers Quiz # 2
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