A debit balance in bank column of cash book is always equal to the credit balance in the account of Mr. X in the books of bank.

False

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True

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Partly True

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None

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Solution

The correct option is B
True

Yes. A debit balance in bank column of cash book is always equal to the credit balance in the account of Mr. X in the books of bank.

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Similar questions

State whether the following Statements are True or False.

1) Bank Reconciliation Statement is prepared by Bank.
2) Bank Reconciliation Statement is prepared at the end of stipulated period.
3) Overdraft facility is allowed to proprietors personal account
4) Debit balance of Pass Book represents overdraft
5) Credit balance of Bank column of Cash Book represents the balance as per Cash book.
6) Bank charges debited by Bank increases bank balance in the Pass Book.
7) Interest credited in Pass Book is an income to the Customer.
8) Bank Reconciliation Statement is prepared to detect the errors the takes place in accounting

Q. The debit balance of the bank account as per the cash book should be equal to the credit balance of the account of the business in the books of the bank.

Q. Credit balance of bank account in cash book shows ______________.

Q. Credit balance shown by a bank column in cash book is ______.

Bank column of the cash book can have credit balance . Why ?

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A debit balance in bank column of cash book is always equal to the credit balance in the account of Mr. X in the books of bank.

The correct option is B True Yes. A debit balance in bank column of cash book is always equal to the credit balance in the account of Mr. X in the books of bank.

The correct option is B
True

Yes. A debit balance in bank column of cash book is always equal to the credit balance in the account of Mr. X in the books of bank.