Bank reconciliation statement is the comparison of a bank statement (sent by bank) with the _________ (prepared by business).

Related Mcqs:

A cash deposit made by business appears on the bank statement as _______ balance?

A. Debit B. Credit C. Expenses D. Liability...

A check returned by bank marked “NSF” means that:

A. Bank can’t verify your identity B. There are not sufficient funds in your account C. Check has been forged D. Check can’t be cashed being illegal...

___________ are checks that are issued by the business but not yet presented to bank

A. Uncollected checks B. Uncredited checks C. Outstanding checks D. Bounced checks...

In bank reconciliation statement the amount of outstanding checks is added to ________ balance of cash book.

A. Adjusted B. Unadjusted C. Understated D. Overstated...

Favorable balance of bank statement implies that

A. Credit balance B. Debit balance C. Bank overdraft D. Adjusted balance...