Bank reconciliation terms.2

Uncollected cheques are also known as?

• Outstanding cheques

• Uncleared cheques

• Outstation cheques

• Both A & B

When check is not paid by the bank, it is called?

• Honoured

• Endorsed

• Dishonoured

• Both A & B

In the cash book, bank charges are recorded on the?

• Credit side

• Debit side

• Both A & B

• None of the above

A cheque that the business has received from another person or company which have been rejected for payment by the bank when deposited is called ______________ cheque

• Unpresented

• Dishonoured

• Un-credited

An overdraft will appear as a __________ balance in the cash book

• Debit

• Credit

A_____________________ is a copy of the bank's customer's account in the books of the bank.

• Cash Book

• Bank Reconciliation Statement

• Bank Statement

What do we call a cheque that the bank refused to pay the payee because the drawer has insufficient funds in his current account?

• Stale cheque

• Dishonoured cheque

• Sad cheque

• Dubious cheque

A cheque received from a debtor on 28 April 20x8 was credited into the bank on 30 April 20x8. However, on 7 May 20x8, the bank returned the cheque. This is known as _______.

• unpresented cheque

• uncredited cheque

• dishonoured cheque

• unrecorded deposit

Which of the following best describes an unpresented cheque?

• Payment made by the bank directly to the supplier but the business has not recorded the transaction yet.

• Business has issued the cheque but the supplier has not presented it to the bank for processing.

The type of transactions recorded in a Cash Book are:

• all sales of inventories on credit

• all outgoings of cash from the business

• all cash and cheques received from any source

• all purchases of inventories on credit