Financial Accounting

Banking Transactions MCQs with Answers

FOLLOWING  MCQs ARE RELATED TO BANKING TRANSACTIONS WITH ANSWERS

1)  Bank does not issue cheque book on:

(A)  Current account

(B)  Fixed deposit account

(C)  Saving bank account

(D) All of the above

Answer

Option B

2)  Bank issue bank statement on:

(A)  Current account

(B)  Saving bank account

(C)  Fixed deposit account

(D)  a & b

Answer

D

3)  Bank gives overdraft facility on:

(A)  Saving bank account

(B)  Fixed deposit account

(C)  Current account

(D)  All of the above

Answer

Option C

4)  A business man like to open account with bank:

(A)  Fixed deposit account

(B)  Saving bank account

(C)  Current account

(D)  None of them

Answer

Option C

5)  Commission of bank draft paid by:

(A)  Bank himself

(B)  Purchaser of draft

(C)  Payee

(D)  All of the above

Answer

Option B

6)  Bank charge collecting fee of out station cheque from:

(A)  Drawer

(B)  Drawee

(C)  Payee

(D)  None of them

Answer

Option C

7)  Dishonored cheque is returned by the bank to:

(A)  Drawer

(B)  Drawee

(C)  Payee

(D)  Depositor

Answer

Option D

8)  Bank does not make the payment of cheque on the counter for:

(A)  Bearer cheque

(B)  Order cheque

(C)  Cross cheque

(D)  None of these

Answer

Option C

9)  On opening current account, Bank issue to his client:

(A)  Cheque book

(B)  Pass book

(C)  Both a & b

(D)  None of them

Answer

Option C

10)  Payment can be made any time during business hours on:

(A)  Saving bank account

(B)  Fixed deposit account

(C)  Current account

(D)  All of the above

Answer

Option D

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