Bank Reconciliation Statement

Class 11 · Accountancy · 50 Questions

Read the following transactions and identify the cause of difference on the basis of time gap or errors made by business firm/bank. Put a sign (✓) for the correct cause.

II(i)beginner🧠 Remember1 markFill in the Blanks

Passbook is a copy of……as it appears in the ledger of the bank.

II(ii)beginner🧠 Remember1 markFill in the Blanks

When money is withdrawn from the bank, the bank ……… the account of the customer.

II(iii)beginner🧠 Remember1 markFill in the Blanks

Normally, the cash book shows a debit balance, passbook shows ………balance.

II(iv)beginner🧠 Remember1 markFill in the Blanks

Favourable balance as per the cash book means ………balance in the bank column of the cash book.

II(v)intermediate💡 Understand1 markFill in the Blanks

If the cash book balance is taken as starting point the items which make the cash book balance smaller than the passbook must be ...for the purpose of reconciliation.

II(vi)intermediate💡 Understand1 markFill in the Blanks

If the passbook shows a favourable balance and if it is taken as the starting point for the purpose of bank reconciliation statement then cheques issued but not presented for payment should be ...to find out cash balance.

II(vii)intermediate💡 Understand1 markFill in the Blanks

When the cheques are not presented for payment, favourable balance as per the cash book is ...than that of the passbook.

II(viii)intermediate💡 Understand1 markFill in the Blanks

When a banker collects the bills and credits the account passbook overdraft shows ...balance.

II(ix)intermediate💡 Understand1 markFill in the Blanks

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.

II(x)intermediate💡 Understand1 markFill in the Blanks

When the passbook balance is taken as the starting point items which makes the passbook balance ...than the balance in the cash book must be deducted for the purpose of reconciliation.

1beginner🧠 Remember1 markMCQ

A bank reconciliation statement is prepared by:

2beginner🧠 Remember1 markMCQ

A bank reconciliation statement is prepared with the balance:

3beginner🧠 Remember1 markMCQ

Passbook is a copy of:

4beginner🧠 Remember1 markMCQ

Unfavourable bank balance means:

5beginner🧠 Remember1 markMCQ

Favourable bank balance means:

6beginner💡 Understand1 markMCQ

A bank reconciliation statement is mainly prepared for:

1beginner🧠 Remember1 markTrue / False

Passbook is the statement of account of the customer maintained by the bank.

2beginner💡 Understand1 markTrue / False

A business firm periodically prepares a bank reconciliation statement to reconcile the bank balance as per the cash book with the passbook as these two show different balances for various reasons.

3intermediate💡 Understand1 markTrue / False

Cheques issued but not presented for payment will reduce the balance as per the passbook.

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