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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What are outstanding checks?
💡 Hint: Think about checks you've written that haven't been processed yet.
Question 2
Easy
Define deposits in transit.
💡 Hint: Consider when you deposit money but it isn't reflected in your bank account.
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 are outstanding checks?
- Checks cleared by the bank
- Checks issued but not yet cleared
- Checks deposited
💡 Hint: Think of the checks that are still waiting to be cashed.
Question 2
Deposits in transit refer to:
- True
- False
💡 Hint: Consider what happens when you deposit money late.
Solve 2 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company has issued checks amounting to ₹10,000 that are still outstanding. They also have deposits in transit totaling ₹4,000. Calculate the impact on their cash balance.
💡 Hint: Consider the difference between reported cash and actual cash available.
Question 2
Analyze a situation where a business is frequently facing discrepancies due to overdue outstanding checks. What actions should they take to manage this?
💡 Hint: Think about how good practices can influence better cash management.
Challenge and get performance evaluation