Tag: Financial Accounting Mcq

(A) Bank charges increase debit balance shown as per Bank Column of the Cash Book.
(B) Bank charges increase debit balance as per Bank pass book.
(C) A cash sale of a non-trading asset is recorded in the journal proper.
(D) Cash discount allowed by the business will appear on the debit side of the debtor‘s account.

(A) When the bank column of a Cash Book shows a credit balance, it means an amount is due to the bank
(B) When Pass Book shows a debit balance, it means overdraft as per Pass Book
(C) While preparing Bank Reconciliation Statement, cheques paid into bank but not yet cleared are deducted from the Debit balance as per Cash Book to arrive at the balance as per Pass Book
(D) A Bank Reconciliation Statement is a part of Pass Book

(A) To rectify the mistakes in the Cash Book
(B) To arrive at the Bank Balance
(C) To arrive at the Cash Balance
(D) To bring out the reasons for the difference between the Balance as per Cash Book and the Balance as per Bank Statement

(A) Cheque issued but not presented
(B) Cheque issued but dishonoured
(C) Cheque deposited and credited by bank
(D) All of (a) and (b) above

(A) Credit side of Cash Book
(B) Debit side of Cash Book
(C) Debit side of Trial Balance
(D) Credit side of Balance Sheet

(A) Surplus cash
(B) Bank overdraft
(C) Terms deposits with bank
(D) None of these

(A) Mistake in Cash Book
(B) Mistake in Pass Book
(C) Cheque issued but not presented for payment
(D) Cheques deposited but not cleared

(A) Cash received from X credited to Y;
(B) Cheques issued to A but debited to B;
(C) Cheques deposited and cleared on the same date
(D) All the three