1/11
Which of the following is not a reason for the difference in balances between the
cash at the bank account and the bank statement?
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
Cheques issued but not yet presented for payment
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
Cheques deposited but not yet credited by the bank
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
Deposits made into the bank account not yet recorded by the business
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
Deposits made into the bank account and recorded by the business
2/11
Which of the following will be recorded in the bank reconciliation statement?
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
Receipts of cheques or cash not yet credited
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
Direct payments
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
Credit transfers
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
Dishonoured cheques
3/11
he business’ cash at bank account shows a beginning debit balance of $250, whereas the bank statement shows a beginning credit balance of $750.
The difference is due to ________________________.
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
cheques of $750 not yet presented
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
direct deposit of $1,000
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
cheque of $500 that was recently debited
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
direct payment of $750
4/11
Bank reconciliation done by the business:
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
Should be prepared by an employee who records cash transactions
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
Is for information purposes only
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
Is part of the business’ internal control system
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
Is sent to the bank for verification
5/11
A dishonoured cheque received from a credit customer was debited in the bank statement received. What entry is required in the cash at bank account?
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
Debit Trade Receivable, credit Cash at bank
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
Debit Cash at bank, credit Trade Receivable
6/11
The following statements describe the business’ Cash at bank Account. Which statement is incorrect?
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
When debtors settle their debts, the Cash at bank Account is debited.
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
When cash is deposited directly into the bank account, the Cash at bank account is credited.
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
The Cash at bank Account has a credit balance when the cash outflows exceed the cash inflows.
7/11
On 31 March 2022 Batman Trading received a cheque of $200 which was recorded in the Cash at Bank account, and banked in on the same day. The bank statement for the month of March does not show this $200. How should Batman Trading deal with this $200 in the bank reconciliation statement?
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
As an addition to deposits in transit
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
As a deduction to deposits in transit
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
As an addition to cheques not yet presented
![](https://i0.wp.com/principlesofaccounts.com/wp-content/plugins/smartquizbuilder/includes/images/import/sqb_empty.jpg?w=640&ssl=1)
As a deduction to cheques not yet presented
8/11
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