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Bank Reconciliation Statement

Total questions: 20

Worksheet time: 28mins

Name
Class
Date
1.

A bank reconciliation statement is

a)

Part of the cash book

b)

Part of Bank account

c)

Part of financial statement

d)

None of the above

2.

If the Bank Statement balance does not agree with the bank balance of the Cash Book, then _________.

a)

the Cash Book should be regarded as the correct record of transactions

b)

the Bank Statement should be regarded as the correct record of transactions

c)

a Bank Reconciliation Statement should be prepared

d)

the difference could be either a current asset or current liability

3.

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

a)

Debit

b)

Credit

c)

Expenses

d)

Liabilities

4.

A bank overdraft will appear as a __________balance in Bank Statement.

a)

debit

b)

credit

5.

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

a)

True

b)

False

6.

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

a)

True

b)

False

7.

If the bank charges the business fees, the bank makes a credit entry in the bank statement.

a)

True

b)

False

8.

If the final balance in the bank statement is RM 3,500 Dr, unpresented cheques equal RM 200 and outstanding deposits total RM 400, the final balance in the business's bank account is:

a)

RM 3,700 Dr

b)

RM 3,700 Cr

c)

RM 3,300 Cr

d)

RM 3,300 Dr

9.

If the final balance in the bank statement is RM 3,900 Cr, unpresented cheques equal RM 500 and outstanding deposits total RM 900, the final balance in the business's bank account is:

a)

RM 4,300 Dr

b)

RM 4,300 Cr

c)

RM 3,500 Cr

d)

RM 3,500 Dr

10.

On 30 April 2022, you received the bank statement for March and found that a RM 12,000 cheque, which was drawn on 10 April 2022 and paid to creditor, had been dishonoured by the bank.

a)

Cash Book, Dr Cash Cr Creditor

b)

Cash Book, Dr Creditor Cr Cash

c)

Bank Rec. item, Add to bank balance

d)

Bank Rec. item, less from cash book bal.

11.

A payment of RM 6,500 by cheque was wrongly recorded on the debit side of the cash book.

a)

Cash book,

Dr Cash Cr payment overstated

b)

Cash book,

Dr payment understated Cr Cash

c)

Bank Rec. item, Add to bank balance

d)

Bank Rec. item, less from cash book bal.

12.

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?

a)

Credit balance

b)

Overdraft

c)

Drawings

d)

Transactions

13.

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

a)

Stale cheque

b)

Dishonoured cheque

c)

Sad cheque

d)

Dubious cheque

14.

Which of the following is already recorded in the Cash at Bank account but not in the Bank Statement?

a)

Bank charges

b)

Dishonoured cheque

c)

Uncredited cheque

d)

Credit transfer

15.

A cheque which has been drawn but not yet shown on bank statement refers to which of the following items?

a)

Credit Transfer

b)

Dishonoured Cheque

c)

Uncredited Deposit

d)

Unpresented Cheque

16.

Which of the following is not recorded in the Cash at Bank account but already recorded in the Bank Statement?

a)

Unpresented cheque

b)

Direct debit

c)

Uncredited cheque

17.

Why cash book and bank statement doesn't provide the same value?

a)

record different transaction

b)

some transactions are recorded by one side only

18.

Received cheque 150 recorded by the business, what correction need to be made?

a)

cash book +150

b)

cash book -150

c)

bank statement +150

d)

bank statement -150

19.

Paid interest 150 recorded by the bank, what correction need to be made?

a)

cash book +150

b)

cash book -150

c)

bank statement +150

d)

bank statement -150

20.

The Bank Statement shows a credit balance of RM960, but the Cash Book shows a different figure. The difference of RM10 arises from a credit transfer from a debtor. The Cash Book has a balance of RM________.

a)

970 (Dr)

b)

970 (Cr)

c)

950 (Dr)

d)

950 (Cr)