5 Questions
What is a possible cause of difference in balances between the Cash Book and Pass Book?
Cheques issued by banks not yet presented for payments
What is the purpose of a Bank Reconciliation Statement (BRS)?
To reconcile the balances as per cash book prepared by the firm and the balances as per pass book recorded by the bank
What is an example of an error that may result in a difference in balances?
Cheques deposited/bills discounted dishonoured
Which of the following is a factor responsible for timing gaps in recording transactions?
Direct debits made by the bank on behalf of the customer
What is the need for bank reconciliation statements?
Due to the fact that many times there is a difference in both the balances
Test your understanding of Bank Reconciliation Statements with this Class 11 Accountancy quiz. Check your knowledge of reconciling cash book and pass book balances, and gain confidence in preparing BRS.
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