Do you need some help in preparing for your upcoming Accounting exam? We’ve compiled a list of MCQ Questions for Class 11 Accountancy with Answers to get you started with the subject, Bank Reconciliation Statement Class 11 MCQs Questions with Answers. You can download NCERT MCQ Questions for Class 11 Accountancy Chapter 5 Bank Reconciliation Statement with Answers Pdf free download and learn how smart students prepare well ahead. So, ace up your preparation with MCQ on Bank Reconciliation Statement Class 11 Objective Questions.
Bank Reconciliation Statement Class 11 MCQs Questions with Answers
Select the Correct Answer
Question 1.
A bank reconciliation statement is prepared by
(a) Creditors
(b) Bank
(c) Account holder in a bank
(d) Debtors
Answer
Answer: (c) Account holder in a bank
Question 2.
A bank reconciliation statement is prepared with the balance
(a) Passbook
(b) Cash book
(c) Both passbook and cash book
(d) None of these
Answer
Answer: (c) Both passbook and cash book
Question 3.
Passbook is a copy of:
(a) Customer account
(b) Bank column of cash book
(c) Cash column of cash book
(d) Receipts and payments
Answer
Answer: (a) Customer account
Question 4.
Unfavourable bank balance means
(a) Credit balance in passbook
(b) Credit balance in cash book
(c) Debit balance in cash book
(d) None of these
Answer
Answer: (b) Credit balance in cash book
Question 5.
Favourable bank balance means :
(a) Credit balance in the cash book
(b) Credit balance in passbook
(c) Debit balance in the cash book
(d) Both (b) and (c)
Answer
Answer: (d) Both (b) and (c)
Question 6.
A bank reconciliation statement is mainly prepared for
(a) Reconcile the cash balance of the cash book
(b) Reconcile the difference between the bank balance shown by the cash book and bank passbook
(c) Both (a) and (b)
(d) None of these
Answer
Answer: (b) Reconcile the difference between the bank balance shown by the cash book and bank passbook
Fill in the blanks
Question 1.
Passbook is a copy of ………………. as it appears in the ledger of the bank.
Answer
Answer: customer account
Question 2.
When money is withdrawn from the bank, the bank ……………… the account of the customer.
Answer
Answer: debit
Question 3.
Normally, the cash book shows a debit balance, passbook shows ……………….. balance.
Answer
Answer: credit
Question 4.
Favourable balance as per the cash book means …………….. balance in the bank column of the cash book.
Answer
Answer: debit
Question 5.
If the cash book balance is taken as starting point the items which make the cash book balance smaller than the passbook must be ………………. for the purpose of reconciliation.
Answer
Answer: added
Question 6.
If the passbook shows a favourable balance and if it is taken as the starting point for the purpose of bank reconciliation statement then cheques issued but not presented-for payment should be ……………… to find out cash balance.
Answer
Answer: deducted
Question 7.
When the cheques are not presented for payment, favourable balance as per the cash book is ……………… than that of the passbook.
Answer
Answer: lower/less
Question 8.
When a banker collects the bills and credits the account passbook overdraft shows ……………….. balance.
Answer
Answer: less/lower
Question 9.
If the overdraft as per the passbook is taken as the starting point, the cheques issued but not presented are to be ………………… in the bank reconciliation statement.
Answer
Answer: added
Question 10.
When the passbook balance is taken as the starting point items which makes the passbook balance ……………… than the balance in the cash book must be deducted for the purpose of reconciliation.
Answer
Answer: higher
State whether each of the following statements is True or False.
Question 1.
Passbook is the statement of account of the customer maintained by the bank.
Answer
Answer: True
Question 2.
A business firm periodically prepares a bank reconciliation statement to reconcile the bank balance as per the cash book with the passbook as these two show different balances for various reasons.
Answer
Answer: True
Question 3.
Cheques issued but not presented for payment will reduce the balance as per the passbook.
Answer
Answer: False
Question 4.
Cheques deposited but not collected will result in increasing the balance of the cash book when compared to passbook.
Answer
Answer: True
Question 5.
Overdraft as per the passbook is less than the overdraft as per cash book when there are cheques deposited but not collected by the banker.
Answer
Answer: False
Question 6.
The debit balance of the bank account as per the cash book should be equal to the credit balance of the account of the business in the books of the bank.
Answer
Answer: True
Question 7.
Favourable bank balance as per the cash book will be less than the bank passbook balance when there are unpresented cheques for payment.
Answer
Answer: True
Question 8.
Direct collections received by the bank on behalf of the customers would increase the balance as per the bank passbook when compared to the balance as per the cash book.
Answer
Answer: True
Question 9.
When payments made by the bank as per the standing instructions of the customer, the balance in the passbook will be more when compared to the cash book.
Answer
Answer: False
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