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Bank Reconciliation Statement Test - 27

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Bank Reconciliation Statement Test - 27
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Weekly Quiz Competition
  • Question 1
    1 / -0
    While preparing a Bank Reconciliation Statement taking the balance as per Cash Book as the starting point, Direct collection by bank are:
  • Question 2
    1 / -0
    While preparing a Bank Reconciliation Statement taking the Dr. balance as per Cash Book as the starting point, interest allowed by the bank are:
  • Question 3
    1 / -0
    While preparing a Bank Reconciliation Statement taking the balance as per Cash Book as the starting point, dishonour of Discounted B/R are:
  • Question 4
    1 / -0
    A Bank Reconciliation Statement is prepared to know the causes for the difference between:
    Solution
    Bank Reconciliation Statement (BRS) is prepared on a periodical basis for checking that bank related transactions are recorded properly in the cash book's bank column and also by the bank in their books. BRS helps to detect errors in recording transactions and determining the exact bank balance as on a specified date. Therefore, B is the correct option.
  • Question 5
    1 / -0
    A cheque of Rs. 112 received from a debtor recorded in the cash book but omitted to be banked. When balance as per Cash Book is the starting point.
  • Question 6
    1 / -0
    A Bank reconciliation statement reconciles the -
    Solution
    A bank reconciliation statement is a summary of banking and business activity that reconciles an entity's bank account with its financial records. The statement outlines the deposits, withdrawals and other activity affecting a bank account for a specific period.
  • Question 7
    1 / -0
    While preparing a Bank Reconciliation Statement taking the balance as per Cash Book as the starting point, Debit balance of Rs. 112 brought forward as credit balance of Rs. 121 is:
  • Question 8
    1 / -0
    While preparing a Bank Reconciliation Statement taking the balance as per Cash Book as the starting point, an under cast of Bank Column on credit side of Cash Book is:
  • Question 9
    1 / -0
    While preparing a Bank Reconciliation Statement taking the balance as per Cash Book as the starting point, Bank charges and interest charges are:
  • Question 10
    1 / -0
    The biggest factor in determining the price of a mortgage is:
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