A. Uncollected checks
B. Uncredited checks
C. Outstanding checks
D. Bounced checks
Related Mcqs:
- _________ Checks that are presented to bank but not yet credited by the bank.
A. Unpresented checks
B. Uncredited checks
C. Outstanding checks
D. Bounced checks - Balance as per cash book(adjusted.=$1000, Unpresented checks=$2000, Uncredited checks=$500, Deposit in transit=$500. Compute the balance as per bank statement.
A. $2000
B. Zero
C. $3000
D. $2500 - Bank reconciliation statement is the comparison of a bank statement (sent by bank) with the _________ (prepared by business).
A. Cash receipt journal
B. Cash payment journal
C. Cash book
D. Financial statements - In bank reconciliation statement the amount of outstanding checks is added to ________ balance of cash book.
A. Adjusted
B. Unadjusted
C. Understated
D. Overstated - Unpresented checks also referred as____________?
A. Uncollected checks
B. Uncredited checks
C. Outstanding checks
D. Bounced checks - Uncollected checks also referred as______________?
A. Unpresented checks
B. Uncredited checks
C. Outstanding checks
D. Bounced checks - Postdated checks are considered as__________?
A. Cash
B. Bank balance
C. Accounts receivable
D. Cash reserve - A cash deposit made by business appears on the bank statement as _______ balance?
A. Debit
B. Credit
C. Expenses
D. Liability - The portion of the acquisition cost of the asset yet to be allocated is known as___________?
A. Written down value
B. Accumulated value
C. Salvage value
D. Residual Value - On scrutiny of a firm‘s books of accounts, it was observed that the following errors have occurred in the previous years but have not yet been rectified.
i. Depreciation for 2011-2012- 7,000 understated
ii. Accrued expenses as at March 31, 2013 – 10,000 understated
The impact of this on the reported net income for the year ending March 31, 2013 isA. 7,000 Overstated
B. 10,000 Overstated
C. 17,000 Understated
D. 17,000 Overstated
