Bank reconciliation statement is a part of_________?

Related Mcqs:

Financial accounting provides financial information to all of the following external users except:

A. Government agencies B. investors C. Creditors D. Managers...

The first step in accounting process is___________?

A. Recording the transaction B. Identifying the transaction C. Posting the transaction D. Preparing the source documents...

Which of the following statements is correct about Depreciation?

A. Depreciation cannot be provided in case of loss in a financial year B. Depreciation is a charge against profit C. Depreciation is provided in the books only when there is profit D. Depreciation is an appropriation of profit...

The adjustment to be made for prepaid expenses is____________?

A. Add prepaid expenses to respective expenses and show it as an asset B. Deduct prepaid expenses from respective expenses and show it as an asset C. Add prepaid expenses to respective expenses and show it as a liability D. Deduct prepaid expenses from respective expenses and show it as a liability...

The drawer of a trade bill passes relevant entries with regard to the transaction involved in it. But, in case of an accommodation bill, he passes an entry in addition to the usual entries. The additional entry so passed is with respect to

A. Discounting of the bill with the bank B. Payment of the bill on due date C. Remitting or receiving the amount D. Sending the bill to bank for collection...