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
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