Tag: bank balance, bank overdraft, meaning, and bank reconciliation statement

Questions Related to bank balance, bank overdraft, meaning, and bank reconciliation statement

Bank Reconciliation statement is prepared by: 

organisation of commerce and management cash book and bank related transactions objectives and importance of bank reconciliation statement meaning of petty cash book bank balance, bank overdraft, meaning, and bank reconciliation statement

  1. Bank

  2. Customer of bank

  3. Creditors of a business

  4. Neither of the three

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Correct Option: B

The debit balance of Rs. 112 as on the previous day was brought forward as a credit balance of Rs.121 in a Cash Book. When the balance as per Cash Book is the starting point __________ .

organisation of commerce and management cash book and bank related transactions objectives and importance of bank reconciliation statement meaning of petty cash book bank balance, bank overdraft, meaning, and bank reconciliation statement

  1. Rs. 112 to be added

  2. Rs. 121 to be added

  3. Rs. 233 to be added

  4. Rs. 233 to be subtracted

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Correct Option: C

Which of the following items is to be appear in the Bank Reconciliation Statement if the balance as per Amended Cash Book is taken as the starting point:

organisation of commerce and management cash book and bank related transactions objectives and importance of bank reconciliation statement meaning of petty cash book bank balance, bank overdraft, meaning, and bank reconciliation statement

  1. Bank Charges and Interest charged by Bank

  2. Interest allowed and Direct Payments by Bank

  3. Direct Payment by our Debtors into the bank

  4. A wrong entry in the Pass Book

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Correct Option: D