3.2.3 - Bank Charges or Interest
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Practice Questions
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What are bank charges?
💡 Hint: Think of the fees associated with your bank account.
What happens if interest on deposits is not recorded?
💡 Hint: Consider how that affects your overall cash flow.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What are bank charges?
💡 Hint: Think about costs associated with having a bank account.
Interest on overdrafts is recorded in which part of the financial statements?
💡 Hint: Consider what might happen if it is not recorded.
1 more question available
Challenge Problems
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A company received an overdraft interest charge of ₹200. If the cash book initially recorded ₹7,000, what should be the new cash book balance?
💡 Hint: Subtract the interest charge from the original cash book balance.
If a business is unaware of a ₹350 maintenance fee, how does this affect their financial decisions for that month?
💡 Hint: How would missing fees impact budgets?
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