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- 1. Multiple Choice
The main purpose of preparing a bank reconciliation statement is?
Part of a Bank Statement
Part of the Cash Book
A separate statement
A sub-division of a journal
- 2. Multiple Choice
Uncollected cheques are also known as?
Outstanding cheques
Uncleared cheques
Outstation cheques
Both A & B
- 3. Multiple Choice
Favourable balance means?
Credit balance in the cash book
Credit balance in the bank statement
Debit balance in cash book
Both B & C
- 4. Multiple Choice
What is the term for balancing a company's cash account to its bank account?
Account balancing
Bank reconciliation
Adjustment
Cleared balance
- 5. Multiple Choice
In order to perform a bank reconciliation you will need the check register and which of the following?
Bank Statement
Chart of Accounts
Accounts Payable
Accounts Receivable
- 6. Multiple Choice
Unfavourable balance means?
Credit balance in cash book
Credit balance in bank statement
Debit balance in cash book
Debit balance in petty cash book
- 7. Multiple Choice
When check is not paid by the bank, it is called?
Honoured
Endorsed
Dishonoured
Both A & B
- 8. Multiple Choice
A bank reconciliation statement is prepared by?
Banker
Accountant of the business
Auditors
Registrars
- 9. Multiple Choice
The balance on the debit side of the bank column of cash book indicates?
The total amount that has been drawn from the bank
Cash at bank
The total amount overdraft in the bank
None of above
- 10. Multiple Choice
In the cash book, bank charges are recorded on the?
Credit side
Debit side
Both A & B
None of the above
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