Bank Reconciliation Statement MCQs

Option A: $5000 will be credited

Option B: $5000 will be debited

Option C: $10,000 will be credited

Option D: $10,000 will be debited

Correct Answer: $5000 will be credited ✔

Option A: $1000 will be added to cash book balance

Option B: $2000 will be deducted from cash book balance

Option C: $3000 will be added to cash book balance

Option D: $3000 will be subtracted from cash book balance

Correct Answer: $3000 will be subtracted from cash book balance ✔

Option A: $2000

Option B: Zero

Option C: $3000

Option D: $2500

Correct Answer: $2000 ✔

Option A: Credit balance

Option B: Debit balance

Option C: Bank overdraft

Option D: Adjusted balance

Correct Answer: Credit balance ✔

Option A: Unpresented checks

Option B: Uncredited checks

Option C: Outstanding checks

Option D: Bounced checks

Correct Answer: Uncredited checks ✔

Option A: Outstanding checks

Option B: Unpresented checks

Option C: Deposit in transit

Option D: Omission of Bank charges

Correct Answer: Outstanding checks ✔

Option A: Adjusted

Option B: Unadjusted

Option C: Understated

Option D: Overstated

Correct Answer: Adjusted ✔

Option A: $500 will be debited

Option B: $500 will be credited

Option C: Non-adjustable

Option D: $1000 will be subtracted

Correct Answer: $500 will be credited ✔

Option A: Uncollected checks

Option B: Uncredited checks

Option C: Outstanding checks

Option D: Bounced checks

Correct Answer: Outstanding checks ✔

Option A: Unpresented checks

Option B: Uncredited checks

Option C: Outstanding checks

Option D: Bounced checks

Correct Answer: Uncredited checks ✔

Option A: Credited in the cash book

Option B: Debited in the cash book

Option C: Entered in the bank statement

Option D: Entered in the petty cash balance

Correct Answer: Credited in the cash book ✔

Option A: $2000 will be debited in cash book

Option B: $2000 will be credited in cash book

Option C: $4000 will be debited in cash book

Option D: $4000 will be credited in the cash book

Correct Answer: $2000 will be credited in cash book ✔

Option A: Uncollected checks

Option B: Uncredited checks

Option C: Outstanding checks

Option D: Bounced checks

Correct Answer: Outstanding checks ✔

Option A: Subtracted from bank balance

Option B: Added to bank balance

Option C: Added to Cash book balance

Option D: Subtracted from cash book balance

Correct Answer: Added to bank balance ✔

Option A: Cash receipt journal

Option B: Cash payment journal

Option C: Cash book

Option D: Financial statements

Correct Answer: Cash book ✔

Option A: Credit balance of cash book

Option B: Debit balance of cash book

Option C: Bank overdraft

Option D: Adjusted balance of cash book

Correct Answer: Debit balance of cash book ✔

Option A: Bank charges will be debited in cash book

Option B: Bank charges will be added to cash book balance

Option C: Bank charges will be credited in cash book

Option D: Bank charges need no adjustment in cash book

Correct Answer: Bank charges will be credited in cash book ✔

Option A: Accountant of the business

Option B: Manager of the business

Option C: Controller of the bank

Option D: Accountant of the bank

Correct Answer: Accountant of the business ✔

Option A: Bank can’t verify your identity

Option B: There are not sufficient funds in your account

Option C: Check has been forged

Option D: Check can’t be cashed being illegal

Correct Answer: There are not sufficient funds in your account ✔

Option A: Debit

Option B: Credit

Option C: Expenses

Option D: Liability

Correct Answer: Credit ✔