Practice Class 11 Accountancy MCQ Questions of Bank Reconciliation Statement with Answers here. To exam your insight into bank compromise articulations, this various decision question exam covering key topics. These exams are the useful groundwork for forthcoming exams, job interviews, or work tasks. In the event that you discover any
Questions trouble, see the page on bank reconciliation statements. Each MCQ has 4 alternatives, and you should pick the correct response for each situation.
Class 11 Accountancy students ought to refer to the accompanying objective-type questions with answers for Bank Reconciliation Statement in class 11. These MCQ Questions with answers for Class 11 Accountancy will come in tests and assist you with scoring good marks. Multiple Choice Questions are a significant part of exams for class 11 Accountancy and whenever practiced appropriately can assist you with getting better marks.
1. When check is not paid by the bank, it is called?
(a) Honored
(b) Endorsed
(c) Dishonored
(d) a & b
2. A bank reconciliation statement is prepared by?
(a) Banker
(b) Accountant of the business
(c) Auditors
(d) Registrar
3. Bank reconciliation is not a?
(a) Reconcile records
(b) Memorandum statement
(c) Ledger account
(d) Procedure to provide cash book adjustments
4. The balance on the debit side of the bank column of cash book indicates?
(a) The total amount has drawn from the bank
(b) Cash at bank
(c) The total amount overdraft in the bank
(d) None of above
5. Bank statement also called?
(a) Pass book
(b) Cash book
(c) Credit book
(d) Debit book
6. The main purpose of preparing a bank reconciliation statement is?
(a) To know the bank balance
(b) To know the balance of bank statement
(c) To correct the cash book
(d) To identify causes of difference between cash book and bank statement
7. Bank Reconciliation Statement is prepared
(a) to know the payments made through cheques.
(b) to know the errors in the Pass Book.
(c) to compare the Cash Book with Pass Book and ascertain the differences.
(d) None of the above.
8. A bank reconciliation statement is prepared by
(a) Creditors
(b) Bank
(c) Account holder in a bank
(d) Debtors
9. Passbook is a copy of:
(a) Customer account
(b) Bank column of cash book
(c) Cash column of cash book
(d) Receipts and payments
10. A bank reconciliation statement is mainly prepared for
(a) Reconcile the cash balance of the cash book
(b) Reconcile the difference between the bank balance shown by the cash book and bank passbook
(c) Both (a) and (b)
(d) None of these
11. A Bank Reconciliation Statement is:
(a) A part of cash book
(b) A part of pass book
(c) A statement prepared by bank
(d) A statement prepared by a customer
12. Payment done by the account holder through issuing a cheque is entered in
(a) the Pass Book at the time of issuing the cheque
(b) the Pass Book at the time of presenting the cheque to the bank for payment
(c) the Cash Book at the time of issuing the cheque
(d) Both (b) and (c)
13. If balance in the bank statement shows Rs. 3,000 (Dr.) and there are deposits of Rs. 800 not yet credited and unpresented cheques totaling Rs. 500, the balance in the Cash Book should be
(a) Rs. 3,300 (Cr.).
(b) Rs. 2,700 (Cr.).
(c) Rs. 4,300 (Cr.).
(d) Rs. 1,700 (Dr.).
14. In cash book, the favourable balance indicates
A) Credit Balance
B) Debit Balance
C) Bank Overdraft
D) Adjusted Balance
15. On the bank statement, cash deposited by the company is known as
A) Credit
B) Debit
C) Liability
D) Expenses
16. Bank reconciliation statement compares a bank statement with _________
A) Cash payment journal
B) Cash receipt journal
C) Financial statements
D) Cashbook
17. What is “Deposit in transit” in bank reconciliation?
A) Added to Bank Balance
B) Subtracted From Bank Balance
C) Subtracted From the Cash Book Balance
D) Added to Cashbook Balance
18. ‘NSF’ marked in cheque sent back by the bank indicates
A) Cheque has been forged
B) A bank couldn’t verify the identity
C) Not sufficient funds
D) A cheque cannot be cashed because it’s illegal
19. Bank reconciliation description is composed of
A) Bank Accountant
B) Business Manager
C) Business Accountant
D) Controller of the bank
20. Credit balance as per pass book is?
(a) Unfavorable balance
(b) Favorable balance
(c) Both a & b
(d) None
21. The balance on the debit side of the bank column of cash book indicates?
(a) The total amount has drawn from the bank
(b) Cash at bank
(c) The total amount overdraft in the bank
(d) None of above
22. Which of the following would not affect bank reconciliation?
(a) Dishonored cheque
(b) Discount received
(c) Bank interest
(d) Check not presented
23. When cash is deposited into bank then the following account would be debited in the company accounts?
(a) Cash account
(b) Overdraft account
(c) Bank account
(d) None
24. Overdraft means _______ balance of Cash Book.
(a) closing
(b) debit
(c) opening
(d) credit
25. A statement which is used to reconcile the bank balance as per cash book and bank statement is called:
(a) Financial Statement
(b) Bank Reconciliation Statement
(c) Bank Statement
(d) Income Statement
