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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the first entry in a Bank Reconciliation Statement?
💡 Hint: Think about where we start in the reconciliation process.
Question 2
Easy
Name one adjustment we add in the BRS.
💡 Hint: What would be missing from the bank statement?
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the first step in the Bank Reconciliation Statement?
- Adjust for errors
- Compare balances
- Prepare the final statement
💡 Hint: Consider how you start any comparison.
Question 2
True or False: Outstanding checks should be added to the cash book balance.
- True
- False
💡 Hint: Think about whether these checks have cleared.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Your cash book shows ₹10,000, with outstanding checks totaling ₹1,500, bank charges of ₹250, and a deposit in transit of ₹3,000. What is your adjusted cash book balance and how does it compare to the potential bank statement?
💡 Hint: Ensure you follow the add and subtract steps correctly.
Question 2
If a bank error resulted in an overstatement of ₹500 in your bank statement, how would you reflect this in your Bank Reconciliation Statement?
💡 Hint: Think about adjustments needed to fix errors.
Challenge and get performance evaluation