Please refer to Bank Reconciliation Statement MCQ Questions Class 11 Accountancy below. These MCQ questions for Class 11 Accountancy with answers have been designed as per the latest NCERT, CBSE books, and syllabus issued for the current academic year. These objective questions for Bank Reconciliation Statement will help you to prepare for the exams and get more marks.
Bank Reconciliation Statement MCQ Questions Class 11 Accountancy
Please see solved MCQ Questions for Bank Reconciliation Statement in Class 11 Accountancy. All questions and answers have been prepared by expert faculty of standard 11 based on the latest examination guidelines.
MCQ Questions Class 11 Accountancy Bank Reconciliation Statement
Select the Correct Answer
Question. A bank reconciliation statement is prepared with the balance
(a) Passbook
(b) Cash book
(c) Both passbook and cash book
(d) None of these
Answer
C
Question. Unfavourable bank balance means
(a) Creit balance in passbook
(b) Credit balance in cash book
(c) Debit balance in cash book
(d) None of these
Answer
B
Question. A bank reconciliation statement is mainly prepared for
(a) Reconcile the cash balance of the cash book
(b) Reconcile the difference between the bank balance shown by the cash book and bank passbook
(c) Both (a) and (b)
(d) None of these
Answer
B
Fill in the blanks
Question. When money is withdrawn from the bank, the bank ……………… the account of the customer.
Answer : debit
Question. Favourable balance as per the cash book means …………….. balance in the bank column of the cash book.
Answer : debit
Question. 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.
Answer : deducted
Question. When a banker collects the bills and credits the account passbook overdraft shows _____ balance.
Answer : less/lower
Question . 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.
Answer : higher
State whether each of the following statements is True or False.
Question. 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.
Answer : True
Question. Cheques deposited but not collected will result in increasing the balance of the cash book when compared to passbook.
Answer : True
Question. The debit balance of the bank account as per the cash book should be equal to the credit balance of the account of the business in the books of the bank.
Answer : True
Question. Direct collections received by the bank on behalf of the customers would increase the balance as per the bank passbook when compared to the balance as per the cash book.
Answer : True
