Bank Reconciliation Statement

Bank Reconciliation Statement

11th Grade

15 Qs

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Bank Reconciliation Statement

Bank Reconciliation Statement

Assessment

Quiz

Other

11th Grade

Practice Problem

Medium

Created by

kalaivani a

Used 62+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A bank reconciliation statement is

Part of the cash book

Part of Bank account

Part of financial statement

None of the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A cash deposit made by business appears on the bank statement as _______ balance.

Debit

Credit

Expenses

Liabilities

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Whenever money is deposited by the business, a credit entry in its records corresponds to a debit entry in the bank's records.

True

False

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

If the final balance of the bank statement is credit, it indicates that the business owes the bank money.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What occurs when a customer has withdrawn more funds than were actually in the banking account resulting in the customer owing money to the bank?

Credit balance

Overdraft

Levies

Transactions

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

7.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

what to be recorded for updating cash book? (more than 1 answer)

bank charge

bank interest

bank error

uncredited amount

standing order

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