In a bank reconciliation, a 'Direct deposit by customer' into bank not recorded in cash book will: MCQ with Answer and Explanation

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In a bank reconciliation, a 'Direct deposit by customer' into bank not recorded in cash book will:

A. Decrease cash book balance

B. Be adjusted in passbook

C. No effect

D. Increase cash book balance

Answer: Option D

Solution (By JKSSB Mock Tests)

When starting with cash book balance, direct deposit increases bank balance, so add to cash book to reconcile with passbook.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Question #1

Which of the following is not a feature of a company?

A. Unlimited liability

B. Perpetual succession

C. Separate legal entity

D. Common seal

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Correct Answer: Option A

Explanation:
Company has limited liability, not unlimited.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2

In a computerised accounting system, the 'Voucher Type' defines:

A. The password

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Correct Answer: Option C

Explanation:
Voucher type categorises transactions for processing and posting.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #3

The 'Expected Error' in audit sampling is:

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Correct Answer: Option B

Explanation:
Expected error is estimated before testing; it affects sample size.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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