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Question Practice

When preparing a bank reconciliation statement, what is the first step?

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MCQ_SA
CBSE
Class 11
Accountancy
Financial Accounting - I
Bank Reconciliation Statement
Question Bank

When preparing a bank reconcil...

Single Answer MCQ
Q-00054077

When preparing a bank reconciliation statement, what is the first step?

1

List all bank charges

2

Compare cash book balance with bank statement balance

3

Add outstanding cheques

4

Adjust for direct deposits

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Continue with nearby questions to strengthen the same chapter concept while you still have the context fresh in mind.

Q1.

What does the bank reconciliation statement help to identify?

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Q2.

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

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Q3.

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

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Q4.

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

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