Bank Reconciliation Statements Quiz for 11th Class Students
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Questions and Answers

What is the purpose of a bank reconciliation statement?

  • To record all the financial transactions of the company
  • To ensure the accuracy of the company's cash records and the bank's records (correct)
  • To track the company's inventory levels
  • To calculate the company's tax liabilities

    • Which item would appear on the bank side of the bank reconciliation statement?

  • Interest earned
  • Bank charges (correct)
  • Outstanding checks
  • Deposits in transit

    • If a check issued by the company has not yet been presented for payment at the bank, it would be classified as:

  • Outstanding check (correct)
  • Interest earned
  • Bank error
  • Deposits in transit

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