Benefits of preparing Bank Reconciliation Statement includes___________?

Related Mcqs:

Which of the following items should not be capitalized relating to fixed assets?

A. Interest payable on loans or deferred credits taken for the acquisition or construction of fixed assets before they are ready for use B. Stand by equipment and servicing equipment C. Expenditure incurred on test runs and experimental production D. Administration and general expenses...

Which of the following is not a method of charging depreciation?

A. Straight line Method B. Written down value Method C. Discounted present value Method D. Sum of digits Method...

LIFO stands for__________?

A.  Lots in , Few out B.  Link input, Format Output C.  Last input, First Output D.  Last in, First Out...

Which of the following relationships is/are false?

A. Net Profit = Gross Profit – Administration and Other expenses B. Net Profit = Gross Profit + Administration expenses and Other expenses C. Opening Stock + Purchases – Closing Stock = Cost of Sales D. Both B. and C. above...

Under which of the following situations, is journal entry not passed in the books of the drawer?

A. When a discounted bill is honoured by the drawee on the due date B. When a bill is sent to the bank for collection C. When a bill is renewed at the request of the drawee D. When a debtor accepts a bill drawn by the drawer...