Bank Reconciliation Statement

20 Questions | Total Attempts: 247

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Reconciliation Quizzes & Trivia

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  • 1. 
    A Bank Reconciliation Statement is prepared to know the causes for the difference between:
    • A. 

      The balances as per cash column of Cash Book and the Pass Book.

    • B. 

      The balance as per bank column of Cash Book and the Pass Book

    • C. 

      The balance as per bank column of Cash Book and balances as per cash column of Cash Book

    • D. 

      None of the above

  • 2. 
    • A. 

      Rs. 1,100

    • B. 

      Rs. 2,175

    • C. 

      Rs. 1,625

    • D. 

      Rs. 1,375

  • 3. 
    • A. 

      1,600

    • B. 

      1,450

    • C. 

      1,850

    • D. 

      1,650

  • 4. 
    When preparing a Bank Reconciliation Statement, if you start with a debit balance as per the Cash Book, then cheques issued but not presented within the period are
    • A. 

      Added

    • B. 

      Deducted

    • C. 

      Not required to be adjusted

    • D. 

      None of the above

  • 5. 
    If the cheque is not presented for the payment upto the date of the preparation of the Bank Reconciliation Statement, then the balance as per Pass Book will be
    • A. 

      Higher than the balance shown by the cashbofck by the amount of unpresented cheque.

    • B. 

      Lower than the balance shown by the cashbook by the amount of unpresented cheque.

    • C. 

      Same as shown by the cashbook.

    • D. 

      None of the above

  • 6. 
    Balance as per cash book is Rs.5,000. Cheques issued but not presented for payment Rs.2,000 and cheques sent for collection but not collected Rs.1,500. The Bank had wrongly debited the account of firm by Rs.20 .Balance as per pass book will be                                                                                                                      
    • A. 

      Rs.5,500

    • B. 

      Rs.5,480

    • C. 

      Rs.5,700

    • D. 

      Rs.8,300

  • 7. 
    Under bank reconciliation statement, while adjusting the cash book
    • A. 

      All the errors and omissions in the cashbook are taken into consideration.

    • B. 

      All the errors and omissions in the passbook are taken into A consideration.

    • C. 

      Delays in recording in the passbook due to difference in timing are taken into consideration.

    • D. 

      All of the above

  • 8. 
    A purchase of Rs. 1,870 by cheques has been wrongly posted in the cashbook as Rs. 1,780. This has the effect of
    • A. 

      Increasing the bank balance by Rs.90

    • B. 

      Decreasing the bank balance by Rs.90

    • C. 

      Increasing the bank balance by Rs.180

    • D. 

      Decreasing the bank balance by Rs.180

  • 9. 
    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
    • A. 

      Added

    • B. 

      Subtracted

    • C. 

      Ignored

    • D. 

      None of the above

  • 10. 
    The following particulars relate to the business of Mohan on March 31, 2006. Balance as shown by the cash book Rs.10,000 Cheques issued but not presented for payment Rs. 4,000 Cheque deposited but not yet collected Rs. 3,000 Balance as shown by the Bank pass book will be
    • A. 

      Rs.9,000

    • B. 

      Rs.10,000

    • C. 

      Rs.11,000

    • D. 

      None of the above

  • 11. 
    If bank balance as per cashbook differs from that appearing in the current account statement, then the balance considered for finalizing the accounts is of
    • A. 

      Adjusted cash book.

    • B. 

      Cash book before any adjustments.

    • C. 

      Pass book.

    • D. 

      Not taken to final accounts in case of difference in the balance

  • 12. 
    • A. 

      Rs. 2,150

    • B. 

      Rs. 2,175

    • C. 

      Rs. 1,475

    • D. 

      Rs. 2,075

  • 13. 
    Mr. Shyam deposited a cheque on 28th March, 2006 for a sum of Rs.10,000. The cheque was collected on 4th April, 2006. If the bank balance as per cash book on 31st March, 2006 is Rs.1,00,000, balance as per pass B book will be
    • A. 

      Rs.1,10,000

    • B. 

      Rs.90,000

    • C. 

      Rs1,00,000

    • D. 

      None of the above

  • 14. 
    The Bank Account of Mukesh was balanced on 31st March, 2006. It showed an overdraft of Rs.50,000. It was observed that one cheque amounting Rs.20,000 deposited but not collected by bank till 31st March. Bank charges of Rs.500 were also charged by the bank during March but  accounted in the book of Mukesh on April 4, 2006. The bank statement of Mukesh shows balance of:                                      
    • A. 

      Rs.70,500

    • B. 

      Rs.69,500

    • C. 

      Rs.70,000

    • D. 

      Rs.50,000

  • 15. 
    Credit balance in the cash book means ________________.            
    • A. 

      Overdraft as per pass book.

    • B. 

      Favourable balance as per pass book.

    • C. 

      Both (a) and (b).

    • D. 

      None of the above.

  • 16. 
    When money is withdrawn from the bank, the bank_________ the account of the customer.
    • A. 

      Credits

    • B. 

      Debits

    • C. 

      Either (a) or (b)

    • D. 

      None of the three

  • 17. 
    There was difference in the bank column of cash book and pass book by Rs.2,500. On scrutiny it was found that interest of Rs.500 charged directly by the bank was not entered in the cash book. The same was adjusted in the cashbook before reconciliation statement. Now, in the bank reconciliation statement, this interest of Rs. 500 is to be
    • A. 

      Added to the cash book balance.

    • B. 

      Subtracted from the cash book balance.

    • C. 

      Ignored while preparing bank reconciliation statement.

    • D. 

      None of the above.

  • 18. 
    Bank pass book is also known as  ___________.  
    • A. 

      Bank book

    • B. 

      Bank account

    • C. 

      Bank column

    • D. 

      Bank statement

  • 19. 
    When balance as per cash book (debit balance) as on 31st March is the starting point, what will be the effect while preparing bank reconciliation statement when out of the cheques amounting to Rs. 5,000 deposited, cheques aggregating Rs. 1,500 were credited in March and cheques aggregating Rs. 2,000 credited in April and the rest have not been collected?
    • A. 

      Subtract Rs. 2,000.

    • B. 

      Add Rs 2,000.

    • C. 

      Subtract Rs.3,500.

    • D. 

      Add Rs. 3,500.

  • 20. 
    Debit balance as per Cash Book of ABC Enterprises as on 31.3.2006 is Rs. 10,000.Cheques deposited but not cleared amounts to Rs. 1,000 andCheques issued but not presented of Rs. 2,000.. Balance as per pass book should be
    • A. 

      11,000.

    • B. 

      9,000.

    • C. 

      10,000.

    • D. 

      None of the three