The error of undercasting of bank pass book is not relevant at the time of preparing the bank reconciliation.

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 A
False

The error of undercasting of bank pass book is always relevant at the time of preparing the bank reconciliation.

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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

While preparing bank reconciliation statement, if balance as per pass book is starting point, direct deposits in bank should be:

Q. Bank reconciliation statement is not prepared to arrive at the bank balance.

Q. Interest charged by the bank will be deducted when the overdraft as per pass book is the starting point for preparing the bank reconciliation statement to arrive at the balance as per cash book at the end.

Q. It is not true for bank reconciliation statement __________.

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The error of undercasting of bank pass book is not relevant at the time of preparing the bank reconciliation.

The correct option is A False The error of undercasting of bank pass book is always relevant at the time of preparing the bank reconciliation.

The correct option is A
False

The error of undercasting of bank pass book is always relevant at the time of preparing the bank reconciliation.