Accounting Mcqs

Page No. 50

The Bank Reconciliation Statement is prepared?


aTo rectify the mistakes in the Cash Book

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bTo arrive at the Bank Balance

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cTo arrive at the Cash Balance

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dTo bring out the reasons for the difference between the Balance as per Cash Book and the Balance as per Bank Statement

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Difference in Bank Balance as per Pass Book and Cash Book may arise on account of_____________?


aCheque issued but not presented

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bCheque issued but dishonoured

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cCheque deposited and credited by bank

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dBoth A. and B.

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View Answer Both A. and B.

Debit side of Bank Pass book corresponds to___________?


aCredit side of Cash Book

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bDebit side of Cash Book

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cDebit side of Trial Balance

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dCredit side of Balance Sheet

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Credit balance as per Cash Book mean____________?


aSurplus cash

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bBank overdraft

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cTerms deposits with bank

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dNone of these

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View Answer Bank overdraft

Which of these items are taken into consideration for preparation of adjusted Cash Book


aMistake in Cash Book

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bMistake in Pass Book

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cCheque issued but not presented for payment

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dCheques deposited but not cleared

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View Answer Mistake in Cash Book

Which of these documents is not required for Bank Reconciliation?


aBank column of Cash Book

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bBank Pass Book

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cBank Statement

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dTrial Balance

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View Answer Trial Balance

Generally the term fund is used to mean the difference between?


aCurrent assets and current liabilities

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bProfit and loss A/C and Balance sheet

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cCurrent assets and non-current liabilities

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dCurrent liabilities and non-current liabilities

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Cash received from debtors would be deemed as___________of funds.


aNo flow

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bSources

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cUses

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dGain

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View Answer No flow

Expenses of the following nature are treated as a Revenue expenses except__________?


aExpenses for day to day running of the business

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bPutting the new asset in working condition

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cDepreciation

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dPurchase of raw material

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Which of these types of expenditure would not be treated as a Capital Expenditure?


aAcquisition of an Asset

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bExtension of an Asset

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cImprovement of the existing Asset

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dMaintenance of the Asset

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