Which of these documents is not required for Bank Reconciliation?

✅ A. Acceptance

Option A : Acceptance Option B : Unconditional promise to pay Option C : Properly stamped Option D : Payment to be made legal currency Correct Answer : Acceptance Read more

✅ D. Advance payments made to suppliers for raw materials

Option A : Finished goods Option B : Work-in-process Option C : Stores and spares Option D : Advance payments made to suppliers for raw materials Correct Answer : Advance payments made to suppliers for raw materials Read more

✅ A. Receipts

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

✅ C. Balance Sheet only

Option A : Trading A/c and Balance Sheet Option B : Profit and Loss A/c Option C : Balance Sheet only Option D : Trading A/c only Correct Answer : Balance Sheet only Read more

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Option A : Previous years profit is overstated and current years profit is also overstate Option B : Previous years profit is understated and current years profit is overstate Option C : Option D : Previous years profit is overstated and current years profit is understate Correct Answer : Previous years profit is overstated and current years profit is understated. Read more

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Option A : Expenses in connection with issue of equity shares Option B : Preoperative expenses Option C : Heavy advertising expenses to introduce a new product Option D : Legal expenses incurred in defending a suit for breach of contract to supply goods Correct Answer : Read more

✅ B. Payments

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

✅ B. Known Liabilities

Option A : Unknown Liabilities Option B : Known Liabilities Option C : Creation of Secret Reserves Option D : All the Three Correct Answer : Known Liabilities Read more