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BANKING TRANSACTION

Authored by Pravitha Raju

Financial Education

11th Grade

Used 1+ times

BANKING TRANSACTION
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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  • When a cheque is dishonored, it means: _______________

  • The cheque has been successfully cashed

  • The cheque was not accepted by the bank

  • c) The cheque was lost in transit

  • The cheque was accepted by the bank

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a cheque received from a customer is dishonored, the journal entry is:_____________

  • a) Debit Bank Account; Credit Customer's Account

  • b) Debit Customer's Account; Credit Bank Account

  • c) Debit Sales Account; Credit Customer's Account

  • d) Debit Customer's Account; Credit Sales Account

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When rent paid by cheque, ___________Account is debited.

Rent A/c

Bank A/c

Salary A/c

Cash A/c

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Cash deposited into bank , _________is to be debited

Bank

Cheque in hand A/c

cash A/c

Customer A/c

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Payment by cheque to Mr. Ranveer ₹ 3,000 .Journal entry is ________

Bank A/c Dr

To Ranveer A/c

Ranveer A/c Dr

To Bank A/c

Cash A/c Dr

To Sales A/c

Cash A/c Dr

To Ranveer

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