Monday, 22 February 2021

CBSE Class 11 Accountancy - MCQ and Online Tests - Unit 5 - Bank Reconciliation Statement

CBSE Class 11 Accountancy – MCQ and Online Tests – Unit 5 – Bank Reconciliation Statement

Every year CBSE schools conducts Annual Assessment exams for 6,7,8,9,11th standards. These exams are very competitive to all the students. So our website provides online tests for all the 6,7,8,9,11th standard’s subjects. These tests are also very effective and useful for those who preparing for any competitive exams like Olympiad etc. It can boost their preparation level and confidence level by attempting these chapter wise online tests.

These online tests are based on latest CBSE syllabus. While attempting these our students can identify the weak lessons and continuously practice those lessons for attaining high marks. It also helps to revise the NCERT textbooks thoroughly.


 

CBSE Class 11 Accountancy – MCQ and Online Tests – Unit 5 – Bank Reconciliation Statement

Question 1.
A bank reconciliation statement is prepared by?
(a) Internal auditor
(b) Business accountant
(c) Businessman
(d) All of These

Answer

Answer: (d) All of These


Question 2.
Which of the following items is not a reason for difference between bank balance as per cash book and pass book?
(a) Dishonored check
(b) Cheques deposited but not yet cleared
(c) Credit sales
(d) Cheques issued but not yet presented for payment

Answer

Answer: (c) Credit sales


Question 3.
Bank reconciliation is not a?
(a) Reconcile records
(b) Memorandum statement
(c) Ledger account
(d) Procedure to provide cash book adjustments

Answer

Answer: (c) Ledger account


Question 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

Answer

Answer: (b) Cash at bank


Question 5.
Bank statement also called?
(a) Pass book
(b) Cash book
(c) Credit book
(d) Debit book

Answer

Answer: (a) Pass book


Question 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

Answer

Answer: (d) To identify causes of difference between cash book and bank statement


Question 7.
Bank reconciliation statement is?
(a) Part of bank statement
(b) Part of the cash book
(c) A separate statement
(d) a sub-division of journal

Answer

Answer: (c) A separate statement


Question 8.
Uncollected checks are also known as?
(a) Outstanding checks
(b) Uncleared checks
(c) Outstation checks
(d) Both b & c

Answer

Answer: (d) Both b & c


Question 9.
Favorable balance means?
(a) Credit balance in the cash book
(b) Credit balance in Bank statement
(c) Debit balance in cash book
(d) both b and c

Answer

Answer: (d) both b and c


Question 10.
Unfavorable balance means?
(a) Credit balance in the cash book
(b) Credit balance in Bank statement
(c) Debit balance in cash book
(d) Debit balance in petty cash book

Answer

Answer: (a) Credit balance in the cash book


Question 11.
Farkhanda Jabeen Ltd. receives a check for Rs. 100 records it in cash book and deposits it on the same day. A statement sent by the bank that day does not show this Rs. 100. How is this shown on the bank reconciliation statement?
(a) As an uncredited deposits added to the bank statement balance
(b) As an uncredited deposits deducted from the bank statement balance
(c) As an Unpresented check added to the bank statement balance
(d) As an Unpresented check deducted from the bank statement balance

Answer

Answer: (a) As an uncredited deposits added to the bank statement balance


Question 12.
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

Answer

Answer: (a) Added to Bank Balance


Question 13.
‘NSF’ marked in cheque sent back by the bank indicates
(a) Cheque has been forged
(b) A bank couldn’t verify the identity
(c) No sufficient money
(d) A cheque cannot be cashed because it’s illegal

Answer

Answer: (c) No sufficient money


Question 14.
When check is not paid by the bank, it is called?
(a) Honored
(b) Endorsed
(c) Dishonored
(d) a & b

Answer

Answer: (c) Dishonored


Question 15.
A bank reconciliation statement is prepared by?
(a) Banker
(b) Accountant of the business
(c) Auditors
(d) Registrar

Answer

Answer: (b) Accountant of the business


Question 16.
Credit balance in bank pass book means?
(a) Bank overdraft
(b) Bank balance
(c) Balance as per cash book
(d) None

Answer

Answer: (b) Bank balance


Question 17.
A check that bears a date latter than date of issue is called?
(a) Anti dated check
(b) Post-dated check
(c) Dishonored check
(d) Outdated check

Answer

Answer: (b) Post-dated check


Question 18.
The main function of a commercial bank is to?
(a) Barrow and lend money
(b) Only barrow money
(c) Only lend money
(d) None of theses

Answer

Answer: (a) Barrow and lend money


Question 19.
When a cheque is returned by the bank showing some technical reason is known as?
(a) Honor of the cheque
(b) Balance of account
(c) Dishonor of the cheque
(d) None of these

Answer

Answer: (c) Dishonor of the cheque


Question 20.
The outstanding check is the missing entry of?
(a) Cash book
(b) Passbook
(c) both
(d) None

Answer

Answer: (b) Passbook


Question 21.
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

Answer

Answer: (d) A statement prepared by a customer


Question 22.
A pass book is a copy of
(a) A customer’s account in the bank’s books
(b) Cash book relating to bank column
(c) Cash book relating to cash column
(d) Firm’s receipts and payments

Answer

Answer: (a) A customer’s account in the bank’s books


Question 23.
A bank reconciliation statement is prepared with the balance of:
(a) Cash book
(b) Pass book
(c) Either cash book or pass book
(d) Neither cash book nor pass book

Answer

Answer: (c) Either cash book or pass book


Question 24.
Unfavourable bank balances means:
(a) Credit balance in the cash book
(b) debit balance in the pass book
(c) Debit balance in the cash book
(d) Favourable balance in the cash book

Answer

Answer: (b) debit balance in the pass book


Question 25.
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

Answer

Answer: (d) To identify causes of difference between cash book and bank statement


Question 26.
In cash book, the favourable balance indicates
(a) Credit Balance
(b) Debit Balance
(c) Bank Overdraft
(d) Adjusted Balance

Answer

Answer: (b) Debit Balance


Question 27.
On the bank statement, cash deposited by the company is known as
(a) Credit
(b) Debit
(c) Liability
(d) Expenses

Answer

Answer: (a) Credit


Question 28.
Bank reconciliation statement compares a bank statement with _________
(a) Cash payment journal
(b) Cash receipt journal
(c) Financial statements
(d) Cashbook

Answer

Answer: (d) Cashbook


Question 29.
Directly collections of bank are to be ___________ in cash book?
(a) Dr
(b) Cr
(c) both
(d) None

Answer

Answer: (a) Dr


Question 30.
The cheque which is issued to creditor but is not presented for payment is called?
(a) Uncredited cheque
(b) Outstanding cheque
(c) Omitted cheque
(d) Dishonored cheque

Answer

Answer: (b) Outstanding cheque


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