A. Credited in the cash book
B. Debited in the cash book
C. Entered in the bank statement
D. Entered in the petty cash balance
Related Mcqs:
- In which of the following orders data is entered in journal?
A. Alphabetical order
B. Numeric order
C. Bullets order
D. Chronological order - In bank reconciliation statement the amount of outstanding checks is added to ________ balance of cash book.
A. Adjusted
B. Unadjusted
C. Understated
D. Overstated - ________ is the common base for preparing a trial balance?
A. Ledger accounts
B. General Journal
C. Specialized journals
D. Balance sheet - ________ is a separate legal entity that Total capital can be divided in many shares.
A. Partnership
B. Sole proprietorship
C. Company
D. Non-profit organization - ________ is the gross inflow of economic benefits?
A. Assets
B. Liabilities
C. Income
D. Expenses - Every business transaction affects at least ________ accounts?
A. One
B. Two
C. Three
D. Infinite - The most common imprest system is the ________ system?
A. Petty cash
B. Cash book
C. Cash receipt
D. Discount - Bank reconciliation statement is prepared by____________?
A. Accountant of the business
B. Manager of the business
C. Controller of the bank
D. Accountant of the bank - Bank sent debit advice of $500 to company being interest on overdraft. It wasn’t entered in cash book. Identify the correct adjustment in cash book.
A. $500 will be debited
B. $500 will be credited
C. Non-adjustable
D. $1000 will be subtracted - Which of the following error results in unadjusted cash book balance?
A. Outstanding checks
B. Unpresented checks
C. Deposit in transit
D. Omission of Bank charges
