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WorksheetsChapter 14 Bank Reconciliation Statement
Total questions: 10
Worksheet time: 5mins
Which of the following types of account would traders open in order to lodge day to day receipts and issues cheques?
Loan Account
Current Account
Savings Account
Fixed Deposit Account
From a bank's point of view, deposits received from customers are treated as which of the following accounting elements?
Income
Expenses
Assets
Liabilities
An enterprise can request its bank to make payments of varying amounts from business bank account. It is known as ______________.
Deposited Cheque Returned
Credit Transfer
Standing Order
Direct Debits
A cheque which has been drawn but not yet shown on bank statement refers to which of the following items?
Credit Transfer
Dishonoured Cheque
Uncredited Deposit
Unpresented Cheque
If the Bank Statement balance does not agree with the bank balance of the Cash Book, then _________.
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
A bank overdraft will appear as a __________balance in Bank Statement.
debit
credit
A cheque for RM100 drawn for rental had been credited to the cash book as RM1. If the business prepare the BRS (starting with CB balance), which of the following is true?
Add RM99
Less RM99
Add RM101
Less RM101
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________.
970 (Dr)
970 (Cr)
950 (Dr)
950 (Cr)
A cheque received from a customer is dishonoured. Which of the following statement is ture?
(Dr) Cash Book; (Cr) Acc Receivable
(Dr) Cash Book; (Cr) Acc Payable
(Dr) Acc Receivable; (Cr) Cash Book
(Dr)Acc Payable; (Cr) Cash Book
Deposited cheque dishonoured by bank for the following reasons, except for ___________.
insufficient funds
irregularities on cheques
cheques are not more than 6 months old
no signature / signature differs from specimen signature
