S1: The Indian Financial System comprises both organized and unorganized sectors. S2: The organized sector includes moneylenders and indigenous bankers. Which statement(s) is/are correct?
Explanation:
The Indian Financial System has both organized (banks, RBI, stock exchanges) and unorganized (moneylenders, indigenous bankers) sectors. S2 is incorrect because moneylenders belong to the unorganized sector.
While preparing a BRS, starting from the overdraft as per Cash Book, a cheque deposited but dishonoured, already recorded in Cash Book but not in Pass Book, will be:
Explanation:
Overdraft as per Cash Book means negative balance. Dishonoured cheque was credited in Cash Book, increasing (debit) balance, but actually bank didn't credit. So to reconcile to Pass Book overdraft, we need to reverse that effect: deduct from overdraft in Cash Book (i.e., make it more negative). So deducted.
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