S1: Cheques issued but not presented for payment increase the bank balance as per the pass book. S2: Direct deposit by a customer into the bank account decreases the cash book balance. Which statement(s) is/are correct? MCQ with Answer and Explanation
S1: Cheques issued but not presented for payment increase the bank balance as per the pass book. S2: Direct deposit by a customer into the bank account decreases the cash book balance. Which statement(s) is/are correct?
A. S2 only
B. S1 only
C. Neither S1 nor S2
D. Both S1 and S2
Answer: Option C
Solution (By JKSSB Mock Tests)
Cheques issued but not presented decrease the pass book balance, not increase it. Direct deposit by a customer increases the pass book balance but has no immediate effect on the cash book until intimated. Both are incorrect.
No comments yet. Be the first to start the discussion!