Practicing Success
Match List – I with List – II.
Choose the correct answer from the options given below : |
A-I, B-II, C-IV, D-III A-III, B-I, C-IV, D-II A-IV, B-III, C-II, D-I A-I, B-III, C-II, D-IV |
A-III, B-I, C-IV, D-II |
The correct answer is option 2- A-III, B-I, C-IV, D-II.
* Bank statement- Pass book. A bank passbook is a copy of a bank account as shown by the bank records. This enable the bank customers to check their funds in the bank regularly and update their own records of transactions that have occurred. The amount of balance shown in the passbook or the bank statement must tally with the balance as shown in the cash book. * Excess withdrawal from bank- Overdraft. Overdrafts are where the bank account becomes negative and the businesses in effect have borrowed from the bank. * Debit balance as per cash book- Favourable balance. Debit balance as per cash book means the amount lying deposited in the bank. Debit balance as per cashbook is equal to credit balance as per passbook. * Timing of recording the transaction- Reason of difference between two balances. A bank reconciliation statement prepared to reconcile the bank balance as per cash book with the balance as per passbook or bank statement, by showing the items of difference between the two accounts. There are 2 Causes of difference: – timing of recording the transaction and error made by business or by the bank. |