Bank Reconciliation Statement
• 1/45 Questions
Bank reconciliation statement is prepared with the either balances of
o
Pass book
o
Cash book
o
Both(a)or(b)
o
None of the above
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About This Quiz
,This quiz on Bank Reconciliation Statement assesses understanding of the adjustments needed to reconcile the
differences between the cash book balance and the pass book balance. It tests skills in identifying unrecorded
transactions and calculating correct bank balances, crucial for accurate financial reporting.
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• 2.
Bank Reconciliation Statement is
o
A part of the cash book
o
A statement showing the causes of differences between the
balance of cash book and passbook.
o
A part of financial statement
o
None of the above.
Correct Answer
A. A statement showing the causes of differences between the balance
of cash book and passbook.
, Explanation
The correct answer is "A statement showing the causes of differences
between the balance of cash book and passbook." This is because a
bank reconciliation statement is used to reconcile the differences
between the balance shown in the cash book (the company's record of
its cash transactions) and the balance shown in the bank passbook
(the bank's record of the company's transactions). It helps to identify
any errors, omissions, or timing differences that may have caused the
discrepancies between the two balances.
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• 3.
In the bank reconciliation statement, when balance as per the cashbook
is taken as the starting point, then direct deposits from the customer of
Rs. 452,500 in the bank will be
o
Added
o
Subtracted
o
Ignored
o
, None of the above
Correct Answer
A. Added
Explanation
When preparing a bank reconciliation statement, deposits made by
customers that have not yet been recorded in the cashbook need to be
added. This is because the cashbook balance is the starting point, and
any deposits made by customers that are not yet recorded in the
cashbook will result in an increase in the bank balance. Therefore, the
correct answer is "Added".
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• 4.
When money is withdrawn from the bank, the bank_________ the
account of the customer.
o
Credits
o
Debits
o
Either (a) or (b)
• 1/45 Questions
Bank reconciliation statement is prepared with the either balances of
o
Pass book
o
Cash book
o
Both(a)or(b)
o
None of the above
Start
About This Quiz
,This quiz on Bank Reconciliation Statement assesses understanding of the adjustments needed to reconcile the
differences between the cash book balance and the pass book balance. It tests skills in identifying unrecorded
transactions and calculating correct bank balances, crucial for accurate financial reporting.
Quiz Preview
• 2.
Bank Reconciliation Statement is
o
A part of the cash book
o
A statement showing the causes of differences between the
balance of cash book and passbook.
o
A part of financial statement
o
None of the above.
Correct Answer
A. A statement showing the causes of differences between the balance
of cash book and passbook.
, Explanation
The correct answer is "A statement showing the causes of differences
between the balance of cash book and passbook." This is because a
bank reconciliation statement is used to reconcile the differences
between the balance shown in the cash book (the company's record of
its cash transactions) and the balance shown in the bank passbook
(the bank's record of the company's transactions). It helps to identify
any errors, omissions, or timing differences that may have caused the
discrepancies between the two balances.
Rate this question:
• 3.
In the bank reconciliation statement, when balance as per the cashbook
is taken as the starting point, then direct deposits from the customer of
Rs. 452,500 in the bank will be
o
Added
o
Subtracted
o
Ignored
o
, None of the above
Correct Answer
A. Added
Explanation
When preparing a bank reconciliation statement, deposits made by
customers that have not yet been recorded in the cashbook need to be
added. This is because the cashbook balance is the starting point, and
any deposits made by customers that are not yet recorded in the
cashbook will result in an increase in the bank balance. Therefore, the
correct answer is "Added".
Rate this question:
• 4.
When money is withdrawn from the bank, the bank_________ the
account of the customer.
o
Credits
o
Debits
o
Either (a) or (b)
