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If a cheque for `500 is mistakenly recorded in the cash book as `50, what is the impact on reconciliation?

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MCQ_SA

Single Answer MCQ

Q-00054080

Increase the bank balance

Decrease the bank balance

Increase the cash book balance

Decrease the cash book balance

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What does the bank reconciliation statement help to identify?

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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?