If credit side of a bank account is greater than the debit side, it indicates which of the following?

Related Mcqs:

1. If debit side of a bank account is greater than credit side it indicates which of the following?

   A. Cash at bank B. Bank understatement C. Bank overdraft D. Balance overstatement...

2. 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...

3. 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...

4. 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...

5. Debit side of Bank Pass book corresponds to___________?

   A. Credit side of Cash Book B. Debit side of Cash Book C. Debit side of Trial Balance D. Credit side of Balance Sheet...

6. Which of the following account with normal balance is shown at the credit side of a trial balance?

   A. Cash account B. Bank account C. Equipment account D. Accrued expenses account...

7. If debit balances = credit balances, trial balance only shows or check the ____________ and it does not indicate that no errors were made during recording and posting.

   A. Arithmetic accuracy B. Errors of commission C. Omissions of economic events D. Understatements of balances...

8. Amount paid to Masood posted to the credit side of his account would affect___________?

   A. Masood’s account B. Cash account C. Cash account and Gagan’s account D. None of these...

9. Credit memo or credit note No. is entered in which of the following journal?

   A. General journal B. Cash journal C. Purchase journal D. Sales return day book...

10. 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...