MLT Knowledge Test Incoming payments

On which side incoming payment should be booked on Bank account?

• Both

• Dt side

• Ct side

Total of the debit entries into Bank account amounted to 2.000 and total of the credit entry into Bank account amounted to 1.500. What is the balance of Bank account?

• 500 Dt balance

• 500 Ct balance

• 400 Dt balance

Invoice for electricity was paid by bank transfer. What will be the correct posting/Choose the correct posting.

• DT Liabilities / CT Bank account

• DT Bank account / CT Liabilities

• DT Bank account / CT Cost

Deferred payment is...

• payment by card

• buy now pay later

• payment by cash

Please choose example of incoming payment.

• payment to vendor

• bank charges

• payment from customer

Which of the following answers describe an outgoing payment?

• payment from customer

• refund from vendor

• refund to customer

Where do we get the bank statement from?

• Automated tool

• Email

• Bank website

What could be the reason for missing bank statement?

• no transactions recorded

• public holidays

• technical issues

When reason codes are used?

• are used just in one department

• are not used at all

• are used if the transaction is not matched and cleared

Please choose correct answers:

• Bank technical account is a group of Profit and loss account

• Sales is a group of Profit and loss account

• Bank main account is a group of Balance Sheet account