Passbook is a copy of ………………. Why Bank Reconciliation is Important. The debit balance of the bank account as per the cash book should be equal to the credit balance of the account of the business in the books of the bank. In case of a debt becoming bad, the amount should be credited to UID/PRN 9/10/2020 Deloitte MCQ Exam - Accounting … 13/17 (a) Trial balance would show the debit side to be `1,000 more than the credit. (b) Cash receipt journal A bank reconciliation statement is mainly prepared for (a) Reconcile the cash balance of the cash book (b) Reconcile the difference between the bank balance shown by the cash book and bank passbook (c) Both (a) and (b) (d) None of these. Advertisement Remove all ads. Visible. * If the balance of the Cash book is taken as a starting point then Cash book balance is to be adjusted in accordance with the entries passed in the Bank pass book and vice versa. For eg:- if Mr.˝A deposited ` 1,00,000 in his bank account it will be recorded on the Dr. side of his … (d) Outdated check, Question 16. Beware of aggregation of deposits in a bank statement. Passbook is a copy of: (c) No sufficient money (c) Auditors (b) Passbook (d) A statement prepared by a customer, Answer: (d) A statement prepared by a customer, Question 22. (d) None of these, Question 18. Answer. (a) A customer’s account in the bank’s books When a banker collects the bills and credits the account passbook overdraft shows ……………….. balance. (d) Debit book, Question 6. Download the Free Template (a) Added to Bank Balance (b) Debit Balance Question 6. Now, it is not practical and feasible for the bank to reconcile the account balances of each and every account holder so, the account holder prepares a bank reconciliation statement for his account maintained in the bank. B. deposits in transit. (d) Added to Cashbook Balance, Question 30. It can be prepared at any time during the financial year, as and when it is required. (c) A separate statement Question 1. This statement helps the account holders to check and keep track of their funds and update the transaction record that they have made. The bank reconciliation statement helps to check the correctness of the entries recorded in the books of accounts and thereby, ensures the accuracy of bank … (d) Expenses, Question 28. Click here for the answer of Bank reconciliation is a statement prepared to reconcile_____? Favourable bank balance as per the cash book will be less than the bank passbook balance when there are unpresented cheques for payment. On scrutiny it was found that interest of Rs.500 charged directly by the bank was not entered in the cash book. (b) Bank balance 3. The cheque which is issued to creditor but is not presented for payment is called? (a) Credit balance in the cash book (c) both (a) Anti dated check Question 1. (c) Cash column of cash book State whether each of the following statements is True or False. There are outstanding checks totaling $840 and a deposit in transit of $60. Question 7. B. deposits in transit. (d) both b and c, Question 10. Tick the items appearing in both the books. Bank Reconciliation Statement is similar to bank statement. Solution: Question 3. (a) As an uncredited deposits added to the bank statement balance Question 8. for the purpose of reconciliation. The main purpose of preparing a bank reconciliation statement is? It can be prepared at any time during the financial year, as and when it is required. 4. Question 1. (c) The total amount overdraft in the bank Bank Reconciliation statement is prepared by a) Accountant of the business b) Manager of the business c) Controller of the bank d) Accountant of the bank (d) None, Question 15. Cash receipt journal B. (c) Both (a) and (b) (c) Cash book relating to cash column The BRS MCQs Test is consists of 10 Questions, every question has … (b) Cash at bank Options. Bank 4. Question 3. 3.Bank reconciliation statement is a: ledger account Bank reconciliation statement. (c) Dishonor of the cheque 8. Bank reconciliation statement is? b) Bank statement and cash column of the Cash Book. How is this shown on the bank reconciliation statement? Identify the correct adjustment in cash book. (c) Prepare a bank reconciliation statement at 31 December. (c) Both passbook and cash book Bank Reconciliation Statement is prepared only during the year end. Page-13 section-2 The main purpose of preparing a bank reconciliation statement is? Direct collections received by the bank on behalf of the customers would increase the balance as per the bank passbook when compared to the balance as per the cash book. 1. (a) To know the bank balance student. This document is highly rated by CA Foundation students and has been viewed 11662 times. D. NSF checks. (b) Only barrow money (c) Dishonored MCQ's on Bank Reconciliation statement Part = 01 - YouTube. Bank Reconciliation statement is prepared by Accountant of business. Bank Reconciliation Statement may be prepared at any time. Bank reconciliation statement is the comparison of a bank statement (sent by bank) with the _________ (prepared by business). (b) Debit 3. (c) Debit balance in cash book Passbook is the statement of account of the customer maintained by the bank. Question 6. Bank Reconciliation Statement MCQs 1 is a set of multi-options questions of BRS. When money is withdrawn from the bank, the bank ……………… the account of the customer. Know your preparation level on MCQ Questions for Class 11 Accountancy with Answers. (a) Passbook (c) Credit sales Question 8. Accounting MCQ's. For eg:- if Mr.˝A deposited ` 1,00,000 in his bank account it will be recorded on the Dr. side of his cash book, but for the Bank Reconciliation Statement is prepared by Bank. bank. (d) None, Question 20. Reason: Bank reconciliation statement is a statement which reconciles bank Balance as per Cash Book with Balance as per Pass Book (Bank statement) by showing all causes of different between the two.3. Info. (d) To identify causes of difference between cash book and bank statement, Answer: (d) To identify causes of difference between cash book and bank statement, Question 7. • After finding the reasons for non agreement of the bank balances efforts are made to … none of the above. Bank Reconciliation statement features. (a) Internal auditor In cash book, the favourable balance indicates C. the bank statement … Answer:b MCQ 4:A Bank Reconciliation statement is prepared with the help of: a) Bank statement and bank column of the Cash Book. (c) Debit balance in the cash book