When check is not paid by the bank, it is called?
  • Honored
  • Endorsed
  • Dishonored
  • a & b
A bank reconciliation statement is prepared by?
  • Banker
  • Accountant of the business
  • Auditors
  • Registrar
Bank reconciliation is not a?
  • Reconcile records
  • Memorandum statement
  • Ledger account
  • Procedure to provide cash book adjustments
The balance on the debit side of the bank column of cash book indicates?
  • The total amount has drawn from the bank
  • Cash at bank
  • The total amount overdraft in the bank
  • None of above
Bank statement also called?
  • Pass book
  • Cash book
  • Credit book
  • Debit book
The main purpose of preparing a bank reconciliation statement is?
  • To know the bank balance
  • To know the balance of bank statement
  • To correct the cash book
  • To identify causes of difference between cash book and bank statement
Bank reconciliation statement is?
  • Part of bank statement
  • Part of the cash book
  • A separate statement
  • a sub-division of journal
Uncollected checks are also known as?
  • Outstanding checks
  • Uncleared checks
  • Outstation checks
  • Both b & c
Favorable balance means?
  • Credit balance in the cash book
  • Credit balance in Bank statement
  • Debit balance in cash book
  • both b and c
Unfavorable balance means?
  • Credit balance in the cash book
  • Credit balance in Bank statement
  • Debit balance in cash book
  • Debit balance in petty cash book
Farkhanda Jabeen Ltd. receives a check for Rs. 100 records it in cash book and deposits it on the same day. A statement sent by the bank that day does not show this Rs. How is this shown on the bank reconciliation statement?
  • As an uncredited deposits added to the bank statement balance
  • As an uncredited deposits deducted from the bank statement balance
  • As an Unpresented check added to the bank statement balance
  • As an Unpresented check deducted from the bank statement balance
Which of the following items is not a reason for difference between bank balance as per cash book and pass book?
  • Dishonored check
  • Cheques deposited but not yet cleared
  • Credit sales
  • Cheques issued but not yet presented for payment
Credit balance in bank pass book means?
  • Bank overdraft
  • Bank balance
  • Balance as per cash book
  • None
A check that bears a date latter than date of issue is called?
  • Anti dated check
  • Post-dated check
  • Dishonored check
  • Outdated check
The main function of a commercial bank is to?
  • Barrow and lend money
  • Only barrow money
  • Only lend money
  • None of theses
When a cheque is returned by the bank showing some technical reason is known as?
  • Honor of the cheque
  • Balance of account
  • Dishonor of the cheque
  • None of these
The outstanding check is the missing entry of?
  • Cash book
  • Passbook
  • both
  • None
Directly collections of bank are to be ___________ in cash book?
  • Dr
  • Cr
  • both
  • None
The cheque which is issued to creditor but is not presented for payment is called?
  • Uncredited cheque
  • Outstanding cheque
  • Omitted cheque
  • Dishonored cheque
A Bank Reconciliation Statement is:
  • A part of cash book
  • A part of pass book
  • A statement prepared by bank
  • A statement prepared by a customer
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