ACCOUNTANCY FOR CLASS 11 CHAPTER 5 BANK RECONCILIATION STATEMENT MCQS ALONG WITH ANSWERS

Free CBSE Accountancy Multiple Choice Questions for Class 11 along with answers Chapter 5: Bank Reconciliation Statement. Accountancy MCQs for Class 11 chapter-wise with answers are prepared based on the current exam pattern. Students can tackle MCQs with answers to realise their spadework level.

1. ‘NSF’ marked in the cheque sent back by the bank indicates _______.

(a) Cheque has been forged

(b) A bank couldn’t verify the identity

(c) No sufficient money

(d) A cheque cannot be cashed because it’s illegal

Answer: (c) No sufficient money

2. Bank reconciliation statement compares a bank statement with _________.

(a) Cash payment journal

(b) Cash receipt journal

(c) Financial statements

(d) Cash book

Answer: (d) Cash book

3. What is the main purpose of preparing a bank reconciliation statement?

(a) To know the bank balance

(b) To know the balance of bank statement

(c) To correct the cash book

(d) To identify causes of difference between cash book and bank statement

Answer: (d) To identify causes of difference between cash book and bank statement

4. A bank reconciliation statement is ______.

(a) A part of cash book

(b) A part of pass book

(c) A statement prepared by the bank

(d) A statement prepared by a customer

Answer: (d) A statement prepared by a customer

5. A bank reconciliation statement is prepared with the balance of ______.

(a) Cash book

(b) Pass book

(c) Either cash book or pass book

(d) Neither cash book nor pass book

Answer: (c) Either cash book or pass book

6. Unfavourable bank balances mean ______.

(a) Credit balance in the cash book

(b) Debit balance in the pass book

(c) Debit balance in the cash book

(d) Favourable balance in the cash book

Answer: (b) Debit balance in the pass book

7. The cheque which is issued to the creditor but is not presented for payment is called _____.

(a) Uncredited cheque

(b) Outstanding cheque

(c) Omitted cheque

(d) Dishonored cheque

Answer: (b) Outstanding cheque

8. When a cheque is returned by the bank showing some technical reason is known as _______.

(a) Honor of the cheque

(b) Balance of account

(c) Dishonor of the cheque

(d) None of the above

Answer: (c) Dishonor of the cheque

9. Which of the following items is not a reason for the difference between bank balance as per cash book and pass book?

(a) Dishonored cheques

(b) Cheques deposited but not yet cleared

(c) Credit sales

(d) Cheques issued but not yet presented for payment

Answer: (c) Credit sales

10. XYZ Ltd. receives a cheque for Rs. 100, records it in the cash book, and deposits it on the same day. A statement sent by the bank that day does not show this Rs. 100. How is this shown on the bank reconciliation statement?

(a) As an uncredited deposit added to the bank statement balance

(b) As an uncredited deposit deducted from the bank statement balance

(c) As an unpresented cheque added to the bank statement balance

(d) As an unpresented cheque deducted from the bank statement balance

Answer: (a) As an uncredited deposit added to the bank statement balance

11. The main purpose of preparing a bank reconciliation statement is _____.

(a) To know the bank balance

(b) To know the balance of bank statement

(c) To correct the cash book

(d) To identify causes of difference between cash book and bank statement

Answer: (d) To identify causes of difference between cash book and bank statement

12. The balance on the debit side of the bank column of the cash book indicates ______.

(a) The total amount has drawn from the bank

(b) Cash at bank

(c) The total amount overdraft in the bank

(d) None of the above

Answer: (b) Cash at bank

13. A bank reconciliation statement is prepared by _____.

(a) Banker

(b) Accountant of the business

(c) Auditors

(d) Registrar

Answer: (b) Accountant of the business

14. Bank reconciliation statement is ______.

(a) Part of bank statement

(b) Part of the cash book

(c) A separate statement

(d) A subdivision of journal

Answer: (c) A separate statement

15. Favorable balance means _______.

(a) Credit balance in the cash book

(b) Credit balance in the bank statement

(c) Debit balance in the cash book

(d) both b and c

Answer: (d) both b and c

We trust that the offered Accountancy MCQs for Class 11 with responses Chapter 5: Bank Reconciliation Statement will help you. Assuming you have any questions with respect to CBSE Class 11 Accountancy, Bank Reconciliation Statement MCQs, drop a remark underneath, and we will hit you up at the most punctual.

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