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Class 12 Accountancy; Chapter 1- Accounting for Partnership Firms; Features of Partnership

Chapter 1: ‘Accounting for Partnership Firms’ MCQ TEST Topic: Features of Partnership CBSE CLASS 12 STUDY MATERIALS Revision Notes for Class 12 Important Questions for …

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1 / 26

1. The balance on the debit side of the bank column of cash book indicates?

A) The total amount overdraft in the Cash Book

B) Cash at bank

C) The total amount overdraft in the bank

D) The total amount has drawn from the bank

2 / 26

2. A business receives its bank statement showing the closing balance as Rs. 8,500 overdrawn. It is found that there were unpresented cheques amounting to Rs. 2,000 and uncredited deposits amounted to Rs. 1,500. Overdraft as per Cash Book is:

A) ₹9,000.

B) ₹5,000.

C) ₹12,000.

D) ₹8,000.

3 / 26

3. Passbook is a copy of:

A) Receipts and payments

B) Cash column of cash book

C) Bank column of cash book

D) Customer account

4 / 26

4. A bank reconciliation statement is prepared by

A) Bank

B) Debtors

C) Account holder in a bank

D) Creditors

5 / 26

5. Overdraft as per Cash Book is Rs. 10,000. Cheques deposited but not credited Rs.2,500. Cheques issued but not encashed Rs.3,500. What is the balance as per Pass Book?

A) Overdraft ₹11,000

B) Balance ₹11,000

C) Overdraft ₹9,000

D) Balance ₹9,000

6 / 26

6. Uncollected checks are also known as?

A) Uncleared checks

B) Outstanding checks

C) Cleared Checks

D) Bounced checks

7 / 26

7. Pass Book of the account holder is a copy of

A) the cash columns in the Pass Book.

B) the relevant account in the books of a bank.

C) the cash columns in the Cash Book of a customer.

D) the bank columns in the Cash Book of the account holder.

8 / 26

8. Customer’s copy of the account provided by the bank to the depositor to record deposits and withdrawals is called:

A) Sales Book

B) Pass Book

C) Purchases Book

D) Cash Book

9 / 26

9. Unfavourable bank balance means

A) Favourable balance in the Cash Book

B) Credit balance in the Cash Book

C) Debit balance in the Cash Book

D) Credit balance in the Pass Book

10 / 26

10. Ravi’s bank reconciliation statement shows cheques deposited but not credited by bank of Rs. 3,800 and cheques issued but not presented by suppliers of Rs. 3,500. His bank balance as per Cash Book is Rs. 25,000. Balance as per pass book statement is

A) ₹24,700

B) ₹25,300

C) ₹32,300

D) ₹25,000

11 / 26

11. Current account shows Rs. 1,000 as overdrawn. When bank statement is received, it was identified that one of debtors has deposited Rs. 400 into the account and bank charges of Rs. 20 had been debited to the account. Bank Statement balance is

A) ₹4,300 (Cr.)

B) ₹620(Dr.)

C) ₹1,700 (Dr.)

D) ₹1,420 (Dr.)

12 / 26

12. When check is not paid by the bank, it is called?

A) Honored

B) Countersigned

C) Dishonored

D) Endorsed

13 / 26

13. A Bank Reconciliation Statement is:

A) A statement prepared by a customer

B) A statement prepared by bank

C) A part of pass book

D) A part of cash book

14 / 26

14. Cash book balance was Rs. 1,790 (Dr.). When compared with the bank statement, it was identified that unpresented cheques were Rs. 1,040 and deposits not credited were Rs. 820. Balance of the bank statement will

A) ₹1,570 (Cr.)

B) ₹70 (Dr.)

C) ₹2,010 (Cr.)

D) ₹3,650 (Cr.)

15 / 26

15. Following details are related to a firm’s banking transactions at 31st March, 2019. Balance as per bank statement Rs. 22,650; uncleared lodgements Rs. 3,110; unpresented cheques Rs. 6,290. Bank credit recorded twice by bank in error as Rs. 650.
Which balance for cash at bank should appear in the Balance Sheet as at 31st March, 2019?

A) ₹20,120

B) ₹ 26,480

C) ₹18,820

D) ₹25,180

16 / 26

16. VRC Ltd. receives a check for Rs. 100 records it in cash book and deposits it on the same day. A statement sent by the bank that day does not show this Rs. 100. How is this shown on the bank reconciliation statement?

A) As an Unpresented check added to the bank statement balance

B) As an uncredited deposits added to the bank statement balance

C) As an Unpresented check deducted from the bank statement balance

D) As an uncredited deposits deducted from the bank statement balance

17 / 26

17. Bank statement also called?

A) Pass book

B) Cash book

C) Purchase book

D) Sales book

18 / 26

18. ‘NSF’ marked in cheque sent back by the bank indicates

A) Cheque has been forged

B) A cheque cannot be cashed because it’s illegal

C) A bank couldn’t verify the identity

D) No sufficient money

19 / 26

19. Unfavourable bank balances means:

A) Debit balance in the pass book

B) Credit balance in the cash book

C) Favourable balance in the cash book

D) Debit balance in the cash book

20 / 26

20. Bank Reconciliation Statement is prepared:

A) to compare the Cash Book with Pass Book and ascertain the differences.

B) to know the errors in the Pass Book.

C) to know the payments made through cheques.

D) to Prepare Trial Balance.

21 / 26

21. Payment done by the account holder through issuing a cheque is entered in

A) the Pass Book at the time of collecting the cheque by the bank

B) the Cash Book at the time of depositing the cheque

C) the Pass Book at the time of presenting the cheque to the bank for payment

D) the Pass Book at the time of issuing the cheque

22 / 26

22. Bank charges Rs.5,000 debited twice in pass book. What should be done in BRS if overdraft as per cash book is starting point?

A) ₹5,000 must be added

B) ₹10,000 must be deducted

C) ₹10,000 must be added

D) ₹5,000 must be deducted

23 / 26

23. If balance in the bank statement shows Rs. 3,000 (Dr.) and there are deposits of Rs. 800 not yet credited and unpresented cheques totalling Rs. 500, the balance in the Cash Book should be:

A) ₹2,700 (Cr.)

B) ₹4,300 (Cr.)

C) ₹3,300 (Cr.)

D) ₹1,700 (Dr.)

24 / 26

24. A bank reconciliation statement is mainly prepared for:

A) Reconcile the cash balance of the cash book

B) Reconcile the Bank balance of the cash book

C) Reconcile the difference between the bank balance shown by the cash book and bank passbook

D) Reconcile the Bank overdraft balance of the pass book

25 / 26

25. Find out the Bank Balance as per Cash Book from the following particulars :
(i) Overdraft as per Pass Book = Rs. 5,000.
(ii) Cheques deposited into the bank but not credited = Rs.2,000

A) Overdraft = ₹3,000

B) Favourable = ₹7,000

C) Favourable Balance = ₹3,000

D) Overdraft = ₹7,000

26 / 26

26. The cheque which is issued to creditor but is not presented for payment is called?

A) Outstanding cheque

B) Omitted cheque

C) Dishonoured cheque

D) Uncredited cheque

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