Chapter 8: Bank Reconciliation Statement March 18, 2024 Maven Leave a Comment Welcome to the Chapter 8: Bank Reconciliation Statement Quiz! This quiz is based on the book back questions. Name Email 1. Balance as per bank statement is Rs.1000. Cheque deposited but not yet credited by the bank is Rs. 2000. What is the balance as per the bank column of the cash book. Rs. 3000 overdraft Rs. 3000 favourable Rs. 1000 overdraft Rs. 1000 favourable None 2. Which of the following is not a timing difference? Cheque deposited but not yet credited Cheque issued but not presented for payment Amount directly paid into the bank Wrong debit in the cash book None 3. A bank reconciliation statement is prepared with the help of: Bank statement Cash book Bank statement and bank column of cash book Petty cash book None 4. A bank statement is a copy of: Cash column of cash book Bank column of cash book A customer’s account in the bank’s book Cheques issued by the business None 5. When money is withdrawn from the bank, the bank: Credits customer’s account Debits customer’s account Debits and credits customers account None of these None 6. A bank reconciliation statement is prepared by: Bank Business Debtor to the business Creditor to the business None 7. Debit balance in the bank column of cash book means: Credit balance as per bank statement Debit balance as per bank statement Overdraft as per cash book None of the above None 8. A bank reconciliation statement is prepared to know the causes of the differences between: The balance as per the cash column of the cash book and bank column of the cash book The balance as per the cash column of the cash book and the bank statement The balance as per the bank column of the cash book and the bank statement The balance as per the petty cash book and the cash book None 9. Balance as per cash book is Rs.2000. Bank charge of Rs.50 debited by the bank is not yet shown in the cash book. What is the bank statement balance now. Rs. 1950 credit balance Rs. 1950 debit balance Rs. 2050 debit balance Rs. 2050 credit balance None 10. Which of the following is not a salient feature of bank reconciliation statement? Any undue delay in the clearance of cheques will be shown up by the reconciliation Reconciliation statement will discourage the accountant of the bank from embezzlement It helps in finding the actual position of the bank balance Reconciliation statement is prepared only at the end of the accounting period. None Time's up Related Posts:Chapter 8: Financial Statement AnalysisChapter 1: Introduction to Micro EconomicsChapter 2. Consumption AnalysisChapter 3: Production Analysis
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