Bank Reconciliation Statement

When bank charges is discovered in a bank statement, the adjustment is effected in the

(a)Bank reconciliation statement (b)Cash book (c)Suspense account (d)Bank loan account

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When bank charges are deducted from a customer's account, the balance on the bank statement would be

(a)more than the cash book balance (b)less than the cash book balance (c)equal to the cash book balance (d)added to the cash book balance

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A document sent by a bank to its current account customers detailing their transactions over a given period is

(a)Bank reconciliation statement (b)Bank statement (c)Credit transfer (d)Bankers advice

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Which of the following items will not be entered in the adjusted books

(a)Dishonoured cheques (b)Direct payments to banks (c)Uncredited cheques (d)Standing order payments

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Bank reconciliation statement is prepared to reconcile the differences between

(a)Bank statement and credit transfers (b)Cash book and bank transfer (c)Bank statements and Cash transfer (d)Cash book and Bank statements

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Unpresented cheques are cheques

(a)That have been recorded in the cash book but not by the bank (b)That have been received by the bank but not recorded in the cash book (c)Returned by the bank (d)Written, but not handed over to customers

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Which of the following transactions will result in disagreement between cash book and bank statement?

(a)Selling of goods on credit to a customers (b)Withdrawal of goods by the proprietor for his personal use (c)Cheque paid directly into the bank account by a customer (d)Omission of purchases received from a supplier on credit

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A bank statement shows a debit of Le 475. After the entry of an uncredited cheque of Le 800, the new balance is

(a)Le 325 overdraft (b)Le 325 (c)Le 1,275 (d)Le 1,275 overdraft

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In the preparation of bank reconciliation statement, uncredited cheques are

(a)added to balance as per bank statement (b)deducted from the balance as per bank statement (c)added to balance as per cash book (d)ignored totally

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You'll have 60 seconds to answer each question.

Time's Up

Score:

Your fingernails and hair keep growing after you die

Result

Total Questions: 9

Attempt: 8

Correct : 3

Wrong: 5

Percentage: 33%