Accounting MCQs
Accounting MCQs Test Preparation | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
In bank reconciliation statement the amount of outstanding checks is added to ________ balance of cash book.
A: Adjusted
B: Unadjusted
C: Understated
D: Overstated
Adjusted
Unpresented checks also referred as____________?
A: Uncollected checks
B: Uncredited checks
C: Outstanding checks
D: Bounced checks Read More Details about this Mcq
Outstanding checks
A discount of $2000 was given to a supplier on his prompt repayment of debt but the cashier entered the gross amount in cash book. What should be the adjustment in cash to work out the correct balance of cash book?
A: $2000 will be debited in cash book
B: $2000 will be credited in cash book
C: $4000 will be debited in cash book
D: $4000 will be credited in the cash book
$2000 will be credited in cash book
Standing orders are ________
A: Credited in the cash book
B: Debited in the cash book
C: Entered in the bank statement
D: Entered in the petty cash balance
Credited in the cash book
Uncollected checks also referred as______________?
A: Unpresented checks
B: Uncredited checks
C: Outstanding checks
D: Bounced checks
Uncredited checks
___________ are checks that are issued by the business but not yet presented to bank
A: Uncollected checks
B: Uncredited checks
C: Outstanding checks
D: Bounced checks
Outstanding checks
Bank sent debit advice of $500 to company being interest on overdraft. It wasnt 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
$500 will be credited
Bank reconciliation statement is prepared by____________?
A: Accountant of the business
B: Manager of the business
C: Controller of the bank
D: Accountant of the bank
Accountant of the business
Bank charges amounting to $5000 was not entered in the cash book. Identify the correct adjustment in cash book?
A: Bank charges will be debited in cash book
B: Bank charges will be added to cash book balance
C: Bank charges will be credited in cash book
D: Bank charges need no adjustment in cash book
Bank charges will be credited in cash book
Favorable balance of cash book implies that
A: Credit balance of cash book
B: Debit balance of cash book
C: Bank overdraft
D: Adjusted balance of cash book
Debit balance of cash book