A bank reconciliation statement starting with overdraft as per Cash Book will treat a cheque issued but not presented:
A. No effect
B. Added
C. Subtracted
D. Adjusted in capital
Answer: Option B
Solution (By JKSSB Mock Tests)
When starting with overdraft as per Cash Book (negative bank balance), cheque issued reduces the overdraft in cash book but not yet in passbook, so to reconcile, add back.
Explanation:
An e-way bill is not required if the consignment value is below ₹50,000, or for specific movements like goods being sent to a transporter for the purpose of transportation from the consignor's place of business.
Explanation:
The time value of money states that a sum of money is worth more now than the same sum will be at a future date due to its earning capacity.
No comments yet. Be the first to start the discussion!