Sail E0 Webinar

11th Grade > Accountancy

BANK RECONCILIATION STATEMENT MCQs

Total Questions : 30 | Page 1 of 3 pages
Question 1. From the following particulars, find balance as per pass book as at March 31, 2018.
(i) Balance as per cash book Rs 3,700
(ii) Cheque issued but not presented for payment Rs 1,800
(iii) Cheque deposited but not collected Rs 2,000
(iv) Interest credited by bank Rs 150
  1.    Rs 4,750
  2.    Rs 3,650
  3.    Rs 3,750
  4.    Rs 2,800
 Discuss Question
Answer: Option B. -> Rs 3,650
:
B
3,700+1,800-2,000+150=3,650
Question 2. A cheque of Rs 10,000 was deposited in the bank but due to updation in the software, this cheque could not be cleared by bank till the last day of the month. Will the balance as per bank`s pass book & cash book tally?
  1.    Yes
  2.    No
  3.    Sometimes
  4.    None
 Discuss Question
Answer: Option B. -> No
:
B
Balance as per pass book shall be less than the balance as per cash book.
Question 3. We had to pay a sum of Rs 40,000 to Mr. Akhil. By mistake, Rs 4,00,000 was entered on the cheque instead of Rs 40,000 but our bank account did not have such a large amount of balance. What will happen to that cheque?
  1.    It shall become an endorsed cheque
  2.    It shall become a cancelled cheque
  3.    It shall become a stale cheque
  4.    It shall become a dishonored cheque
 Discuss Question
Answer: Option D. -> It shall become a dishonored cheque
:
D
In the given situation when bank did not have sufficient balance, then the cheque shall become a dishonored cheque.
Question 4. Under Bank reconciliation statement, while adjusting the cash book:
  1.    All the errors and omissions in the passbook are taken into consideration
  2.    Delays in recording in the passbook due to difference in timing are taken into consideration
  3.    All the errors and omission in the cash book are taken into consideration
  4.    All of the above
 Discuss Question
Answer: Option D. -> All of the above
:
D
All of the above are taken into consideration while adjusting the cash book in reconciliation.
Question 5. Unfavourable bank balance means:
  1.    credit balance in pass book
  2.    debit balance in pass book
  3.    debit balance in cash book
  4.    None of these
 Discuss Question
Answer: Option B. -> debit balance in pass book
:
B
Unfavourable bank balance means debit balance in pass book i.e overdraft balance
Question 6. If the overdraft as per the passbook is taken as the starting point, the cheques issued but not presented are to be _____ in the bank reconciliation statement.
  1.    Subtracted
  2.    Ignored
  3.    Added
  4.    None of these
 Discuss Question
Answer: Option A. -> Subtracted
:
A
The cheques issued but not presented is added to overdraft balance of passbook.
Question 7. Mr. X issued cheques worth 15,000 in March 2018 out of which cheques worth 10,000 only were presented for payment by 31st March, 2018. While reconciliation bank and cash book balance as on 31st March, 2018, what amount should be added to balance as per cash book to arrive at balance as per pass book?
  1.    Rs 5,000
  2.    Rs 7,500
  3.    Rs 10,000
  4.    Rs 15,000
 Discuss Question
Answer: Option A. -> Rs 5,000
:
A
Cheques worth Rs 5,000 are not appearing in bank statement & hence it shall be added to cash book balance.
Question 8. Which one of these is not a cause of difference in balance as per pass book and as per cash book?
  1.    Errors in cash book
  2.    Errors in pass book of bank
  3.    Cheques issued & cleared
  4.    Cheques issued but not presented for payment
 Discuss Question
Answer: Option C. -> Cheques issued & cleared
:
C
Cheques that have been issued & cleared shall not make any difference.
Question 9. Cheques issued to the supplier but not presented to bank is referred to as:
  1.    Unpresented cheques
  2.    Uncollected cheques
  3.    Cheques deposited but not collected
  4.    Both A & C
 Discuss Question
Answer: Option A. -> Unpresented cheques
:
A
Cheques issued to suppliers and not presented by them to bank is referred to as unpresented cheques.
Question 10. Cheque paid into bank were of Rs 25,000 but the cheque of Rs 10,000 were cleared & credited in our account by bankers which was evident from the bank statement received on the last day of the month. If closing balance as per cash book is Rs 50,000, what will be the balance after the above situation?
  1.    Rs 65,000
  2.    Rs 35,000
  3.    Rs 50,000
  4.    Rs 15,000
 Discuss Question
Answer: Option B. -> Rs 35,000
:
B
The balance of cash book after above transaction shall be Rs 50,000 - Rs 15,000 = Rs 35,000.

Latest Videos

Latest Test Papers