Bank Reconciliation Statement Quiz
Ready to take the quiz?
Test takers will enter name and email before starting.
Preview questions
1. What is the primary purpose of preparing a Bank Reconciliation Statement?
To calculate interest on bank deposits · To ensure accuracy of cash balance · To determine bank charges · To analyze bank transactions
2. Which of the following items would NOT be included in a Bank Reconciliation Statement?
Outstanding cheques · Deposits in transit · Bank charges · Cash sales
3. What is the effect of outstanding cheques on the bank balance?
Increase the bank balance · Decrease the bank balance · No effect on the bank balance · Depends on the cheque amount
4. When preparing a Bank Reconciliation Statement, what does 'Deposits in Transit' refer to?
Deposits made but not yet recorded by the bank · Deposits recorded by the bank but not yet made · Deposits that have bounced · Deposits that are under investigation
5. Which of the following adjustments is made when the bank balance is lower than the cash book balance?
Add outstanding cheques · Subtract deposits in transit · Add bank charges · Subtract interest earned
Related quizzes
View all AccountancyAccountancy Part II - Depreciation, Provisions and Reserves Quiz
Depreciation, Provisions and Reserves
Accountancy Quiz - Financial Statements II
Financial Statements - II
Accountancy Part I - Theory Base of Accounting Quiz
Theory Base of Accounting
Accountancy - Introduction to Accounting
Introduction to Accounting
Applications of Computers in Accounting - Class XI Quiz
Applications of Computers in Accounting
Accountancy Part I - Theory Base of Accounting Quiz
Theory Base of Accounting