Bank reconciliation statement is prepared by____________?

✅ C. Bank charges will be credited in cash book

Option A : Bank charges will be debited in cash book Option B : Bank charges will be added to cash book balance Option C : Bank charges will be credited in cash book Option D : Bank charges need no adjustment in cash book Correct Answer : Bank charges will be credited in cash book Read more

✅ B. Payments

Option A : Receipts Option B : Payments Option C : Incomes Option D : Expenditures Correct Answer : Payments Read more

✅

Option A : Profit and Loss Account Option B : Balance Sheet Option C : Funds Flow Statement Option D : Trial Balance Read More Details about this Mcq Correct Answer : Trial Balance Read more

✅ C. Cash discount

Option A : Trade discount Option B : Prompt payment discount Option C : Cash discount Option D : Bulk discount Correct Answer : Cash discount Read more

✅ B. Profit & Loss A/c

Option A : Debtors A/c Option B : Profit & Loss A/c Option C : Profit & Loss Adjustment A/c Option D : Profit & Loss Appropriation A/c Correct Answer : Profit & Loss A/c Read more

✅ B. The person responsible for dishonour

Option A : The drawer of the bill Option B : The person responsible for dishonour Option C : The holder of the bill Option D : The endorser of the bill Read More Details about this Mcq Correct Answer : The person responsible for dishonour Read more

✅ A. Debit Profit and Loss Account and deduct the provision from debtors

Option A : Debit Profit and Loss Account and deduct the provision from debtors Option B : Credit Profit & Loss Account and deduct the provision from debtors Option C : Credit Profit and Loss Account and add the provision to debtors Option D : Debit Profit & Loss Account and add the provision to debtors Correct Answer : Debit… Read more

✅ A. Sales “ Cost of goods sold

Option A : Sales “ Cost of goods sold Option B : Sales “ Closing Stock + Purchases Option C : Opening Stock + Purchases “ Closing Stock Option D : None of the above Correct Answer : Sales “ Cost of goods sold Read more