MCQ for CA Foundation Accounting Chapter 3 BANK RECONCILIATION STATEMENT

Sample Multiple Choice Questions (MCQ's) for CA Foundation - Paper 1 - Principal and Practice of Accounting - Chapter 3 BANK RECONCILIATION STATEMENT - For Practice relevant for Dec 22 and May/June 23 Examinations

Q:1  When the balance as per Cash Book is the starting point, direct deposits by customers are:

  1. Added
  2. Subtracted
  3. Not required to be adjusted.

Answer: 1

Q:2  A debit balance in the depositor’s Cash Book will be shown as:

  1. A debit balance in the Bank Statement.
  2. A credit balance in the Bank Statement.
  3. An overdrawn balance in the Bank Statement.

Answer: 2

Q:3  When balance as per Pass Book is the starting point, interest allowed by Bank is

  1. Added
  2. Subtracted
  3. Not required to be adjusted

Answer: 2

Q:4  A Bank Reconciliation Statement is prepared with the help of:

  1. Bank statement and bank column of the Cash Book.
  2. Bank statement and cash column of the Cash Book
  3. Bank column of the Cash Book and cash column of the Cash Book

Answer: 1

Q:5  The cash book showed an overdraft of Rs 1,50,000, but the pass book made up to the same date showed that cheques of Rs 10,000, Rs 5,000 and Rs 12,500 respectively had not been presented for payments; and the cheque of Rs 4,000 paid into account had not been cleared. The balance as per the pass book will be:

  1. Rs 1,10,000
  2. Rs 2,17,500
  3. Rs 1,26,500

Answer: 3

Q:6  When drawing up a Bank Reconciliation Statement, if you start with a debit balance as per the Bank Statement, the unpresented cheques should be:

  1. Added;
  2. Deducted;
  3. Not required to be adjusted.

Answer: 1

Q:7  When drawing up a BRS if you start with a Dr. Balance as per Bank Statement, the following are added:

  1. Cheque issued but not presented to bank

  2. B/R collected directly by bank

  3. Overcasting of the Dr. Side of bank A/c in the cash book.

Which of the following statement/s is/are correct

  1. only statement 1
  2. only statement 1& 2
  3. all of the above
  4. only statement 3.

Answer: 2

 

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