Bank Reconciliation Statement MCQs : Here you will find MCQ Questions related to "Bank Reconciliation Statement" in Accountancy. These Bank Reconciliation Statement MCQ Questions Will help you to improve your Accountancy knowledge and will prepare you for various Examinations like Competitive Exams, Placements, Interviews and other Entrance Exmaniations
Question 1
_____________ is a record book of the transactions of a bank account.
A. Trial Balance
B. Rectification of Errors
C. Bank Reconciliation Statement
D. None of the above
Question 2
Bank Reconciliation statement is also known as bank passbook.
A. TRUE
B. FALSE
C. Can be true or false
D. Can not say
Question 3
The Bank Reconciliation Statement can be prepared in ________ ways.
A. 1
B. 2
C. 3
D. 4
Question 4
What are the errors made by the company or by the bank?
A. Errors made while registering the transaction by the company
B. Errors made while registering the transaction by the bank
C. Both A and B
D. None of the above
Question 5
A bank reconciliation statement is prepared by?
A. Banker
B. Accountant of the business
C. Auditors
D. Registrar
Question 6
When check is not paid by the bank, it is called?
A. Honored
B. Endorsed
C. Dishonored
D. Both A and B
Question 7
Bank reconciliation is not a?
A. Reconcile records
B. Memorandum statement
C. Procedure to provide cash book adjustments
D. Ledger account
Question 8
The bank reconciliation statement helps in explaining the differences in the amount between the company’s cash book and bank balance.
A. Yes
B. No
C. Can be yes or no
D. Can not say
Question 9
Bank statement also called?
A. Cash book
B. Credit book
C. Debit book
D. Pass book
Question 10
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