Bank Reconciliation MCQs 2026

Bank reconciliation statement in accounting refers to

1. A automatic withdrawal authorized to creditor ✓
2. B statement explaining book-bank difference ✓
3. C fees deducted by bank not yet in cash book ✓
4. D cheque returned unpaid by drawee bank ✓

Uncredited cheque in accounting refers to

1. A recurring automatic payment instruction ✓
2. B amount deposited directly by customer to bank ✓
3. C cheque recorded by depositor not yet by bank ✓
4. D difference due to recording date lag ✓

Unpresented cheque in accounting refers to

1. A cheque issued not yet presented for payment ✓
2. B fees deducted by bank not yet in cash book ✓
3. C cheque returned unpaid by drawee bank ✓
4. D corrected balance after BRS adjustments ✓

Standing order in accounting refers to

1. A cheque returned unpaid by drawee bank ✓
2. B corrected balance after BRS adjustments ✓
3. C recurring automatic payment instruction ✓
4. D cheque recorded by depositor not yet by bank ✓

Bank charges in accounting refers to

1. A difference due to recording date lag ✓
2. B statement explaining book-bank difference ✓
3. C cheque issued not yet presented for payment ✓
4. D fees deducted by bank not yet in cash book ✓

Credit transfer in accounting refers to

1. A corrected balance after BRS adjustments ✓
2. B amount deposited directly by customer to bank ✓
3. C cheque recorded by depositor not yet by bank ✓
4. D automatic withdrawal authorized to creditor ✓

Dishonoured cheque in accounting refers to

1. A statement explaining book-bank difference ✓
2. B cheque issued not yet presented for payment ✓
3. C cheque returned unpaid by drawee bank ✓
4. D recurring automatic payment instruction ✓

Timing difference in accounting refers to

1. A cheque recorded by depositor not yet by bank ✓
2. B automatic withdrawal authorized to creditor ✓
3. C difference due to recording date lag ✓
4. D fees deducted by bank not yet in cash book ✓

Adjusted cash book balance in accounting refers to

1. A cheque issued not yet presented for payment ✓
2. B recurring automatic payment instruction ✓
3. C amount deposited directly by customer to bank ✓
4. D corrected balance after BRS adjustments ✓

Bank reconciliation scenario 10: a Pakistani importer paying LC must correctly handle error correction

1. A identify whether debit-credit mismatch or wrong account classification ✓
2. B ignore the transaction until next fiscal year ✓
3. C record only one side of the entry ✓
4. D post directly to retained earnings without analysis ✓

Bank reconciliation scenario 37: a Pakistani importer paying LC must correctly handle reconciliation procedure

1. A ignore the transaction until next fiscal year ✓
2. B record only one side of the entry ✓
3. C compare independent records and explain differences ✓
4. D post directly to retained earnings without analysis ✓

Direct debit in accounting refers to

1. A amount deposited directly by customer to bank ✓
2. B difference due to recording date lag ✓
3. C statement explaining book-bank difference ✓
4. D automatic withdrawal authorized to creditor ✓