Bank Reconciliation Statement
Assessment
•
Phaik Gek Lim
•
Other
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11th Grade
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1K plays
•
Hard
Student preview
20 questions
Show answers
1.
Multiple Choice
A bank reconciliation statement is
Part of the cash book
Part of Bank account
Part of financial statement
None of the above
2.
Multiple Choice
If the Bank Statement balance does not agree with the bank balance of the Cash Book, then _________.
the Cash Book should be regarded as the correct record of transactions
the Bank Statement should be regarded as the correct record of transactions
a Bank Reconciliation Statement should be prepared
the difference could be either a current asset or current liability
3.
Multiple Choice
A cash deposit made by business appears on the bank statement as _______ balance.
Debit
Credit
Expenses
Liabilities
4.
Multiple Choice
A bank overdraft will appear as a __________balance in Bank Statement.
debit
credit
5.
Multiple Choice
Whenever money is deposited by the business, a credit entry in its records corresponds to a debit entry in the bank's records.
True
False
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