Accountancy class 11

The main purpose of preparing a bank reconciliation statement is?

• To Know the bank balance

• To know balance as per bank statement

• To Know correct cash book balance

• To identify cause and difference between cashbook & Bank statement

. In cash book, the favourable balance indicates

• Credit Balance

• Debit Balance

• Bank Overdraft

• Adjusted Balance

On the bank statement, cash deposited by the company is known as

• Credit

• Debit

• Liability

• Expenses

. Bank reconciliation statement compares a bank statement with _________

• Cash payment journal

• Cash receipt journal

• Financial statements

• Cashbook

What is “Cheque deposit ” in bank reconciliation?

• Added to Bank Balance

• Subtracted From Bank Balance

• Subtracted From the Cash Book Balance

• Added to Cashbook Balance

Bank reconciliation description is made by

• Bank Accountant

• Business Manager

• Business Accountant

• Controller of the bank

Bank Reconciliation statement is a

• Part of double entry system

• not a part of double entry system

• part of bank statement

• None of above