A. Adjusted
B. Unadjusted
C. Understated
D. Overstated
Bank reconciliation statement MCQs
In the Bank reconciliation statement “Deposit in transit” is usually:
A. Subtracted from bank balance
B. Added to bank balance
C. Added to Cash book balance
D. Subtracted from cash book balance
A discount of $2000 was given to a supplier on his prompt repayment of debt but the cashier entered the gross amount in cash book. What should be the adjustment in cash to work out the correct balance of cash book?
A. $2000 will be debited in cash book
B. $2000 will be credited in cash book
C. $4000 will be debited in cash book
D. $4000 will be credited in the cash book
Favorable balance of bank statement implies that
A. Credit balance
B. Debit balance
C. Bank overdraft
D. Adjusted balance
___________ 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
