A. Credit balance
B. Debit balance
C. Bank overdraft
D. Adjusted balance
Related Mcqs:
- Favorable balance of cash book implies that
A. Credit balance of cash book
B. Debit balance of cash book
C. Bank overdraft
D. Adjusted balance of cash book - 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 - 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 - Debit balance = Credit balance in a trial balance indicates that:
A. No error in recording transactions
B. No error in posting entries to ledger accounts
C. Account balances are correct
D. Mathematically Capital+Liabilities=Assets - Which of the following is not a cause of difference in balance as per cash book and balance as per bank pass book___________?
A. Errors in cash book
B. Errors in pass book
C. Cheques deposited and cleared
D. Cheques issued but not presented for payment - A cash deposit made by business appears on the bank statement as _______ balance?
A. Debit
B. Credit
C. Expenses
D. Liability - In bank reconciliation statement the amount of outstanding checks is added to ________ balance of cash book.
A. Adjusted
B. Unadjusted
C. Understated
D. Overstated - Closing stock in the Trial Balance implies that______________?
A. It is already adjusted in the opening stock
B. It is adjusted in the Purchase A/c
C. It is adjusted in the Cost of Sale A/c
D. It is adjusted in the Profit &Loss A/c - Which of the following account with normal balance is shown at the debit side of a trial balance?
A. Rent income account
B. Creditors account
C. Unearned income account
D. Cash account - If debit balance is greater than creadit balance then the account blance will be__________?
A. Credit balance
B. Debit and credit balance
C. Cash balance
D. Debit balance
