1 If the actual balance in the fund is $950, and the book balance is $1000,
The debtor party when settling the difference will be:
Fund deficit calculation
Fund account
Calculate the increase in the fund
Bank account
Nothing mentioned
2 Which of the following statements is false regarding cash in hand account?
The debtor party when settling the difference will be:
Fund deficit calculation
Fund account
Calculate the increase in the fund
Bank account
Nothing mentioned
2 Which of the following statements is false regarding cash in hand account?
It is recorded on the debtor party when it is received
It is considered a current asset account
It is recorded on the credit side when there is a shortage
The fund account must be closed at the end of the financial period
Nothing mentioned
It is considered a current asset account
It is recorded on the credit side when there is a shortage
The fund account must be closed at the end of the financial period
Nothing mentioned
3 In the event of settling the deficit in the fund, the creditor party will be:
Calculate the increase in the fund
Fund deficit calculation
Fund account
Income summary account
Nothing mentioned
Fund deficit calculation
Fund account
Income summary account
Nothing mentioned
4If the actual balance in the fund is $2,000, and the book balance is $1,500,
The debtor party when settling the difference will be:
deficit in the fund
increase in the fund
Fund account
Income summary
Nothing mentioned
increase in the fund
Fund account
Income summary
Nothing mentioned
5Which of the financial transactions related to the bank account are no settlement entries made in the company’s books?
Bank expenses and commissions shown in the bank statement
Checks collected by the bank and not recorded in the books
Errors in the books
Checks issued to third parties that have not been cashed by their owners
Nothing mentioned
Checks collected by the bank and not recorded in the books
Errors in the books
Checks issued to third parties that have not been cashed by their owners
Nothing mentioned
6 If the accountant finds, when matching the bank statement, that there are checks collected by the bank that were not recorded in the books
Then, the following settlement entry is recorded:
From h/ checks for collection to h/ the bank
From the bank to the bank checks for collection
No adjustment entries are made
From h/ the fund to h/ the bank
Nothing mentioned
No adjustment entries are made
From h/ the fund to h/ the bank
Nothing mentioned
7 When preparing a bank settlement note, the deposits that did not appear in the bank statement (deposits on the way)
To be added to the balance shown in the company's books
Deducted from the balance shown in the company's books
Deducted from the balance shown in the bank statement
To be added to the balance shown in the bank statement
Nothing mentioned
Deducted from the balance shown in the company's books
Deducted from the balance shown in the bank statement
To be added to the balance shown in the bank statement
Nothing mentioned
8 When preparing the bank reconciliation memorandum, the checks whose owners did not cash them from the bank:
To be added to the balance shown in the company's books
Deducted from the balance shown in the bank statement
Deducted from the balance shown in the company's books
To be added to the balance shown in the bank statement
Nothing mentioned
Deducted from the balance shown in the bank statement
Deducted from the balance shown in the company's books
To be added to the balance shown in the bank statement
Nothing mentioned
9What are the financial movements that will lead to the bank’s balance appearing in the books with a value greater than the apparent balance?
In the bank statement?
Checks issued to third parties that have not been cashed by their owners
Returned issued checks that have not been notified to the company
Checks collected by the bank but not notified
Debit interest that has not been notified to the company
Nothing mentioned
10What are the financial movements that will lead to the bank balance appearing in the bank statement with a value greater than the balance?
Returned issued checks that have not been notified to the company
Checks collected by the bank but not notified
Debit interest that has not been notified to the company
Nothing mentioned
10What are the financial movements that will lead to the bank balance appearing in the bank statement with a value greater than the balance?
appearing in the books?
Only one account
At least two accounts
Only three accounts
At least four accounts
Nothing mentioned
At least two accounts
Only three accounts
At least four accounts
Nothing mentioned
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