Bank Reconciliation

JKSSB Finance Accounts Assistant · Accountancy & Book-Keeping · 23 practice questions with answers and explanations: 6 Easy, 11 Medium, 6 Hard.

Sample questions

Sample Easy question 1

A debit balance in the bank column of the cash book means:

  1. The firm has money at the bank
  2. The firm has an overdraft
  3. The bank owes nothing to the firm
  4. Cheques have been dishonoured
Show answer

Answer: A. For the firm, bank is an asset: a debit balance in the cash book is a favourable balance (money at the bank).

Sample Medium question 2

A direct deposit made by a customer into the firm's bank account, not yet recorded in the cash book, will make the passbook balance:

  1. Higher than the cash book balance until adjusted
  2. Lower than the cash book balance
  3. Equal to the cash book balance
  4. Irrelevant to reconciliation
Show answer

Answer: A. The bank has already recorded the deposit, but the firm hasn't yet, so the passbook shows a higher balance.

Sample Hard question 3

The passbook shows an overdraft of ₹10,000. Cheques of ₹2,000 issued by the firm have not been presented. The overdraft as per the cash book is:

  1. ₹12,000
  2. ₹8,000
  3. ₹10,000
  4. ₹2,000
Show answer

Answer: A. The cash book has already recorded the ₹2,000 payment, so its overdraft is larger than the bank's: 10,000 + 2,000 = ₹12,000.

More Accountancy & Book-Keeping topics for JKSSB Finance Accounts Assistant

Related articles