Favorable balance of bank statement implies that

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...

Standing orders are ________

A. Credited in the cash book B. Debited in the cash book C. Entered in the bank statement D. Entered in the petty cash balance...

Uncollected checks also referred as______________?

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

___________ 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...