Accounting - Bank Reconciliations
7 days ago
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  • Question 1
    30 seconds
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    Q.

    The main purpose of preparing a bank reconciliation statement is?

    answer choices

    Part of a Bank Statement

    Part of the Cash Book

    A separate statement

    A sub-division of a journal

  • Question 2
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    Q.

    Uncollected cheques are also known as?

    answer choices

    Outstanding cheques

    Uncleared cheques

    Outstation cheques

    Both A & B

  • Question 3
    30 seconds
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    Q.

    Favourable balance means?

    answer choices

    Credit balance in the cash book

    Credit balance in the bank statement

    Debit balance in cash book

    Both B & C

  • Question 4
    30 seconds
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    Q.

    What is the term for balancing a company's cash account to its bank account?

    answer choices

    Account balancing

    Bank reconciliation

    Adjustment

    Cleared balance

  • Question 5
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    Q.

    In order to perform a bank reconciliation you will need the check register and which of the following?

    answer choices

    Bank Statement

    Chart of Accounts

    Accounts Payable

    Accounts Receivable

  • Question 6
    30 seconds
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    Q.

    Unfavourable balance means?

    answer choices

    Credit balance in cash book

    Credit balance in bank statement

    Debit balance in cash book

    Debit balance in petty cash book

  • Question 7
    30 seconds
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    Q.

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

    answer choices

    Honoured

    Endorsed

    Dishonoured

    Both A & B

  • Question 8
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    Q.

    A bank reconciliation statement is prepared by?

    answer choices

    Banker

    Accountant of the business

    Auditors

    Registrars

  • Question 9
    30 seconds
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    Q.

    The balance on the debit side of the bank column of cash book indicates?

    answer choices

    The total amount that has been drawn from the bank

    Cash at bank

    The total amount overdraft in the bank

    None of above

  • Question 10
    30 seconds
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    Q.

    In the cash book, bank charges are recorded on the?

    answer choices

    Credit side

    Debit side

    Both A & B

    None of the above

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