If the Bank statement balance does not agree with the Book, then ______________
Accounting

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University
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Medium
Titilope Olusola
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The cash book should be regarded as the correct record of transactions
The bank statement should be regarded as the correct record of transactions
A bank reconciliation statement should be prepared
The difference could be either a current asset or current liability
2.
OPEN ENDED QUESTION
30 sec • 1 pt
What is the meaning of a check dishonor?
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3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main benefit of preparing a bank reconciliation statement?
If there is an error in the transaction kept in the cash book only
If there is an error in the transaction kept in the cash book and bank statement
If there is an error in the book of account
If there is an error in the transaction kept in bank statement only
4.
OPEN ENDED QUESTION
30 sec • 1 pt
What are the reasons for the differences between the balance of the bank statement and the bank column of the cash book?
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5.
FILL IN THE BLANK QUESTION
1 min • 1 pt
A bank reconciliation statement is prepared by____________
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Bank reconciliation statement is prepare to reconcile
The balance of cash book with Profit and Loss account of the firm
The balance of pass book with profit and loss account of the firm
The balance of bank column of cash book and the balance in pass book
The balance of cash column of cash book
7.
FILL IN THE BLANK QUESTION
1 min • 1 pt
A __________ is a copy of the bank's customer's account in the book of the bank
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