Download App

Bank Reconciliation Statement — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountBank Reconciliation Statement1 Mark
Question
Why is Bank Reconciliation Statement prepared?
✓

Answer

Bank Reconciliation Statement is prepared to determine the reasons for differences between balance as per Cash Book and balance as per Bank Statement or Bank Pass Book and if necessary to record the entry.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "1 Marks Question" from Bank Reconciliation Statement→Bank Reconciliation Statement — all question types→Account STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

What is meant by Dishonour of a Bill of Exchange?
→
Calculate closing capital:
Opening capital ₹ 70,000: Profit for the year ₹ 20,000: Drawings ₹ 7.000. During the year proprietor sold ornaments of his wife for ₹ 20,000 and invested the same in business.
→
Debit balance in the Profit and Loss Account is a profit. Comment.
→
What is customised and tailor made computerised accounting system?
→
What is One-Sided Error?
→
What is the significance of debit and credit balances of Cash Book?
→
What is the adjustment entry passed for provision for discount on Creditors?
→
Annual sales of a business were as under:
 
₹
Cash Sales
35,000
Credit Sales
40,000
Cost of Goods Sold (including all direct expenses) works out at ₹ 52,000. Expenses incurred on sales amounted to ₹ 6,700. Find out his Net Profit.
→
Give names of two multi-user operating systems.
→
Give any two examples of Capital Expenditure.
→