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Questions and Answers
What is the term for cheques issued by the entity but yet to be presented to the bankers or presented to the bankers but yet to clear?
What is the term for cheques issued by the entity but yet to be presented to the bankers or presented to the bankers but yet to clear?
- Unpresented cheques (correct)
- Uncredited cheques
- Bank errors
- Wrong debits
What is the result of errors by the bank that increases an entity's balance?
What is the result of errors by the bank that increases an entity's balance?
- Uncredited cheques
- Unpresented cheques
- Wrong credits (correct)
- Wrong debits
What is the term for cheques received and deposited by the entity but yet to be credited by the bank?
What is the term for cheques received and deposited by the entity but yet to be credited by the bank?
- Wrong debits
- Uncredited cheques (correct)
- Bank errors
- Unpresented cheques
What is the result of errors by the bank that decreases an entity's balance?
What is the result of errors by the bank that decreases an entity's balance?
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What type of differences are unpresented cheques, uncredited cheques, bank errors, wrong credits, and wrong debits?
What type of differences are unpresented cheques, uncredited cheques, bank errors, wrong credits, and wrong debits?
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