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If a bank account shows a credit balance, it indicates:

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MCQ_SA

Single Answer MCQ

Q-00054088

The bank owes money to the business

The business has overdrawn its account

The account has no funds

Funds exceeding withdrawals

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Q2.

What should be added to the cash book balance to update it during reconciliation?

Q3.

If a bank has directly credited an account with interest, how should this be handled in the cash book?

Q4.

When cheques issued by a company are not presented for payment by the payee, what adjustments are made in the bank reconciliation statement?