M.C.Q (1 Marks)

MCQ 11 Mark

Cash book balance was $₹ 1,790 (Dr.)$. When compared with the bank statement, it was identified that unpresented cheques were $ ₹ 1,040$ and deposits not credited were $₹ 820$. Balance of the bank statement will:

A
$₹ 70 (Dr.)$
B
$₹ 1,570 (Cr.)$
✓
$₹ 2,010 (Cr.)$
D
$₹ 3,650 (Cr.)$

Answer

Correct option: C.

$₹ 2,010 (Cr.)$

View full question & answer→

MCQ 21 Mark

Mohan's bank reconciliation statement shows cheques deposited but not credited by bank of $₹ 3,800$ and cheques issued but not presented by suppliers of $₹ 3,500$. His bank balance as per Cash Book is $₹ 25,000$. Balance as per pass book statement is:

A
$₹ 25,000$
✓
$₹ 24,700$
C
$₹ 25,300$
D
$₹ 32,300$

Answer

Correct option: B.

$₹ 24,700$

View full question & answer→

MCQ 31 Mark

Balance shown in the Balance Sheet is of

A
Cash Book.
B
Pass Book.
✓
Adjusted Cash Book.
D
None of these

Answer

Correct option: C.

Adjusted Cash Book.

View full question & answer→

MCQ 41 Mark

Which of the following will not require adjustment in the Cash Book balance?

A
Cheque issued but not presented for payment.
B
Cheque deposited but not cleared.
✓
Cheque wrongly credited by bank.
D
All of the above.

Answer

Correct option: C.

Cheque wrongly credited by bank.

View full question & answer→

MCQ 51 Mark

Bank Reconciliation Statement is prepared:

A
To know the payments made through cheques.
B
To know the errors in the Pass Book.
✓
To compare the Cash Book with Pass Book and ascertain the differences.
D
None of the above.

Answer

Correct option: C.

To compare the Cash Book with Pass Book and ascertain the differences.

View full question & answer→

MCQ 61 Mark

Following details are related to a firm's banking transactions at $31^{st}$ March, $2019.$ Balance as per bank statement $₹ 22,650;$ uncleared lodgements $₹ 3,110$; unpresented cheques $₹ 6,290$. Bank credit recorded twice by bank in error as $₹ 650.$ Which balance for cash at bank should appear in the Balance Sheet as at $31^{st}$ March, $2019?$

✓
$₹ 18,820.$
B
$₹ 20,120.$
C
$₹ 25,180.$
D
$₹ 26,480.$

Answer

Correct option: A.

$₹ 18,820.$

View full question & answer→

MCQ 71 Mark

Bank Reconciliation Statement is prepared:

A
At the end of each week.
B
At the end of each month.
C
At the end of the accounting year.
✓
Whenever a bank statement is received.

Answer

Correct option: D.

Whenever a bank statement is received.

View full question & answer→

MCQ 81 Mark

If balance in the bank statement shows $₹ 3,000 (Dr.)$ and there are deposits of $₹ 800$ not yet credited and unpresented cheques totalling $₹ 500,$ the balance in the Cash Book should be:

A
$₹ 3,300 (Cr.)$
✓
$₹ 2,700 (Cr.)$
C
$₹ 4,300 (Cr.)$
D
$₹ 1,700 (Dr.)$

Answer

Correct option: B.

$₹ 2,700 (Cr.)$

View full question & answer→

MCQ 91 Mark

Bank Reconciliation Statement is prepared so that the difference between the undermentioned balances can be reconciled:

A
Difference in the balance in the bank and the cash balance.
B
Difference in the balances in the Pass Book in the beginning and at the end.
✓
Difference in the Pass Book and Cash Book balances.
D
None of the above.

Answer

Correct option: C.

Difference in the Pass Book and Cash Book balances.

View full question & answer→

MCQ 101 Mark

Bank Reconciliation Statement is prepared by matching:

✓
Entries in Pass Book with entries in bank columns of Cash Book.
B
Entries in Pass Book with entries in cash columns of Cash Book.
C
Entries in Pass Book with entries in bank columns and cash columns of Cash Book,
D
None of the above.

Answer

Correct option: A.

Entries in Pass Book with entries in bank columns of Cash Book.

View full question & answer→

MCQ 111 Mark

A business receives its bank statement showing the closing balance as $₹ 8,500$ overdrawn. It is found that there were unpresented cheques amounting to $₹ 2,000$ and uncredited deposits amounted to $₹ 1,500.$ Overdraft as per Cash Book is:

A
$₹ 5,000$
B
$₹ 8,000$
✓
$₹ 9,000$
D
$₹ 12,000$

Answer

Correct option: C.

$₹ 9,000$

View full question & answer→

MCQ 121 Mark

Current account shows $₹ 1,000$ as overdrawn. When bank statement is received, it was identified that one of debtors has deposited $₹ 400$ into the account and bank charges of $₹ 20$ had been debited to the account. Bank Statement balance is:

A
$₹ 1,420 (Dr.)$
✓
$₹ 620 (Dr.)$
C
$₹ 4,300 (Cr.)$
D
$₹ 1,700 (Dr.)$

Answer

Correct option: B.

$₹ 620 (Dr.)$

View full question & answer→

MCQ 131 Mark

Bank Reconciliation Statement is:

A
A part of Double Entry System.
✓
Not a part of Double Entry System.
C
Part of Bank Statement.
D
None of these.

Answer

Correct option: B.

Not a part of Double Entry System.

View full question & answer→

MCQ 141 Mark

Debit balance in the Cash Book is equivalent to:

A
Overdraft as per Pass Book.
✓
Credit balance as per Pass Book.
C
Overdraft as per Cash Book.
D
None of these.a

Answer

Correct option: B.

Credit balance as per Pass Book.

View full question & answer→

MCQ 151 Mark

Pass Book of the account holder is a copy of:

A
The bank columns in the Cash Book of the account holder.
✓
The relevant account in the books of a bank.
C
The cash columns in the Cash Book of a customer.
D
None of the above.

Answer

Correct option: B.

The relevant account in the books of a bank.

View full question & answer→

MCQ 161 Mark

Bank Reconciliation Statement is prepared by:

A
Creditors.
B
Debtors.
C
Bank.
✓
Account holder.

Answer

Correct option: D.

Account holder.

View full question & answer→

Account M.C.Q (1 Marks)

Test yourself on this topic