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MCQ Questions for Class 11 Accountancy with Answers: Financial Accounting
Q1. Passbook is a copy of:
(i) Customer account
(ii) Bank column of cash book
(iii) Cash column of cash book
(iv) Receipts and payments
(i) Customer account
Q2. A bank reconciliation statement is prepared by
(i) Creditors
(ii) Bank
(iii) Account holder in a bank
(iv) Debtors
(iii) Account holder in a bank
Q3. Which of the following would not affect bank reconciliation?
(i) Dishonored cheque
(ii) Discount received
(iii) Bank interest
(iv) Check not presented
(ii) Discount received
Q4. A bank reconciliation statement is prepared by?
(i) Banker
(ii) Accountant of the business
(iii) Auditors
(iv) Registrar
(ii) Accountant of the business
Q5. Unfavourable bank balance means
(i) Credit balance in passbook
(ii) Credit balance in cash book
(iii) Debit balance in cash book
(iv) None of these
(ii) Credit balance in cash book
Q6. Unfavourable bank balances means:
(i) Credit balance in the cash book
(ii) debit balance in the pass book
(iii) Debit balance in the cash book
(iv) Favourable balance in the cash book
(ii) debit balance in the pass book
Q7. A statement which is used to reconcile the bank balance as per cash book and bank statement is called:
(i) Financial Statement
(ii) Bank Reconciliation Statement
(iii) Bank Statement
(iv) Income Statement
(ii) Bank Reconciliation Statement
Q8. Bank statement also called?
(i) Pass book
(ii) Cash book
(iii) Credit book
(iv) Debit book
(i) Pass book
Q9. When check is not paid by the bank, it is called?
(i) Honored
(ii) Endorsed
(iii) Dishonored
(iv) Both (i) and (ii)
(iii) Dishonored
Q10. Bank gives overdraft facility to __ account holder.
(i) savings
(ii) recurring
(iii) current
(iv) fixed.
(iii) current
Q11. Bank reconciliation statement is?
(i) Part of bank statement
(ii) Part of the cash book
(iii) A separate statement
(iv) a sub-division of journal
(iii) A separate statement
Q12. A bank reconciliation statement is mainly prepared for
(i) Reconcile the cash balance of the cash book
(ii) Reconcile the difference between the bank balance shown by the cash book and bank passbook
(iii) Both (i) and (ii)
(iv) None of these
(ii) Reconcile the difference between the bank balance shown by the cash book and bank passbook
Q13. Pass Book of the account holder is a copy of
(i) the bank columns in the Cash Book of the account holder.
(ii) the relevant account in the books of a bank.
(iii) the cash columns in the Cash Book of a customer.
(iv) None of the above.
(ii) the relevant account in the books of a bank.
Q14. The main purpose of preparing a bank reconciliation statement is?
(i) To know the bank balance
(ii) To know the balance of bank statement
(iii) To correct the cash book
(iv) To identify causes of difference between cash book and bank statement
(iv) To identify causes of difference between cash book and bank statement
Q15. Favorable balance means?
(i) Credit balance in the cash book
(ii) Credit balance in Bank statement
(iii) Debit balance in cash book
(iv) both (ii) and (iii)
(iv) both (ii) and (iii)
Q16. On the bank statement, cash deposited by the company is known as
(i) Credit
(ii) Debit
(iii) Liability
(iv) Expenses
(i) Credit
Q17. Unpresented checks also referred to as
(i) Bounced checks
(ii) Outstanding checks
(iii) Uncredited checks
(iv) Uncollected checks
(ii) Outstanding checks
Q18. A bank reconciliation statement is prepared by?
(i) Internal auditor
(ii) Business accountant
(iii) Businessman
(iv) All of These
(iv) All of These
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MCQ Questions for Class 11 Accountancy: Financial Accounting
- Lesson 1. Introduction to Accounting Class 11 MCQ
- Lesson 2. Theory Base of Accounting Class 11 MCQ
- Lesson 3. Recording of Transactions 1 Class 11 MCQ
- Lesson 4. Recording of Transactions 2 Class 11 MCQ
- Lesson 5. Bank Reconciliation Statement Class 11 MCQ
- Lesson 6. Trial Balance and Rectification of Errors Class 11 MCQ
- Lesson 7. Depreciation, Provisions and Reserves Class 11 MCQ
- Lesson 8. Bills of Exchange Class 11 MCQ
- Lesson 9. Financial Statements 1 Class 11 MCQ
- Lesson 10. Financial Statements 2 Class 11 MCQ
- Lesson 11. Accounts from Incomplete Records Class 11 MCQ
- Lesson 12. Applications of Computers in Accounting Class 11 MCQ
- Lesson 13. Computerised Accounting System Class 11 MCQ