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