Accounting Multiple Choice Questions with answers | Download PDF for MCQs

MCQs BASED ON RECONCILIATION STATEMENT

1. A bank pass book is a copy of

a) A customer's account in the bank's book

b) Cash book relating to bank column

c) Cash book relating to each column

d) None of these

2. A bank reconciliation statement is prepared to know the causes for the difference between

a) The balance as per cash column of the cash book and pass book.

b) The balance as per bank column of the cash book and pass book

c) Both (a) and (b)

d) None of above

3. Bank reconciliation statement is prepared

a) To know the payments made through cheque.

b) To know the errors in the pass book.

c) To compare the cash book with pass book and ascertain the difference.

d) None of these

4. Bank reconciliation statement is

a) a part of double entry system

b) not a part of double entry system

c) part of bank statement

d) None of these

5. Balance shown in the balance sheet is

a) Cash book

b) Pass book

c) Adjusted cash book

d) None of these

6. Bank reconciliation statement is

a) Part of cash book

b) a part of double entry system

c) a part of pass book

d) An independent statement reconciling the balance as per cash book and pas book.

7. A bank reconciliation statement is prepared by

a) Bank

b) debtor

c) Creditor

d) account holder

8. Bank reconciliation statement is prepared by matching.

a) Entries in pass book with entries in bank column of cash book.

b) Entries in pass book with entries in cash column of cash book.

c) Entries in pass book with entries in bank column and cash column of cash book.

d) None of these

9. Which of the following will not require adjustment in the cash book balance?

a) Cheque issued but not presented for payment.

b) Cheque deposited but not cleared.

c) Cheque wrongly credited by bank

d) All of above

10. In cash book, the favourable balance indicates

a) Credit balance

b) Debit balance

c) Bank overdraft

d) Adjusted balance

11. On the bank statement, cash deposited by the company is known as

a) Credit

b) Debit

c) Liability

d) Expenses

12. When cash is withdrawn from the bank ________ the customer account

a) Debit

b) Credit

c) None of above

13. What is 'deposit in transit' in bank reconciliation?

a) Added to bank balance

b) Subtracted from bank balance

c) Subtracted from the cash book

d) Added to cash book balance

14. 'NSF' marked in cheque sent back by bank indicated

a) Cheque has been rejected

33

b) A bank could not verify the identify

c) No sufficient money

d) None of these

15. Unpresented cheques also referred to as

a) Bounced cheque

b) Outstanding cheque

c) Uncredited cheque

d) Uncollected cheque

16. When check is not paid by the bank, it is called?

a) Honored

b) Endorsed

c) Dishonored

d) (a) and (b)

17. A bank reconciliation statement is prepared by

a) Bank

b) Accountant of business

c) Auditor

d) Registrar

18. Bank reconciliation statement is a

a) Part of cash book

b) Part of bank account

c) part of cash account

d) None of the above

19. A bank reconciliation statement is prepared with the help of

a) Bank statement and bank column of cash book

b) Bank statement and cash column of cash book

c) Bank column of cash book and cash column of cash book

d) None of these

20. Debit balance as per cash book of ABC Co. on 31.03.2020 is Rs. 1500. Cheque deposited but not cleared amounts to Rs. 100 and cheque issued but not presented of Rs. 150. Balance as per pass book should be

a) 1750

b) 1550

c) 1650

d) None of these


Answers to Bank Reconciliation Statement

 

1) A

 

2) B

 

3) C

 

4) B

 

5) A

 

6) D

 

7) D

 

8) A

 

9) C

 

10) B

 

11) A

 

12) A

 

13) C

 

14) C

 

15) C

 

16) C

 

17) B

 

18) D

 

19) A

 

20) B

 

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