Deposits accepted by bank are: Select one alternative: Bank’s liabilities Deposits are not classified in bank’s balance sheet Bank’s assets

Q: Outstanding checks: Group of answer choices Have not been received by the bank for processing Are…

A: Outstanding checks are those that the business has written to a supplier but these have not been…

Q: Which of the following is NOT a criterion for evaluating bank liquidity used by regulators? a.…

A: Bank liquidity refers to measures of cash and other assets equivalent to cash which is available…

Q: he amount of the outstanding checks is included on the bank reconciliation as a(n) Select one: A.…

A: >Outstanding checks are the checks that have been written and given to a party, but that party…

Q: Deposits in transit a. b. C. d. Select one: a. have been recorded on the company's books but not yet…

A: At the time of reconciliation of bank statement with company own books, there can be some…

Q: Outstanding checks refer to checks that have been: Multiple Choice Written, recorded, sent to…

A: Outstanding checks : These are the checks which are written and sent to the bank but which are not…

Q: Which of the following bank reconciliation adjustments would result in an increase to the company's…

A: Bank reconciliation is used for reconciling the balance in the banks books with that of the balance…

Q: When preparing a bank reconciliation, a not sufficient funds (NSF) check is

A: Not sufficient funds (NSF) check is the check issued by the issuer but which is not honured or…

Q: bank reconciliation is   Question 4 options:   a part of double entry system   not a part of…

A: Answer:- correct option is*  not a part of double entry system

Q: According to IAS 32 Financial Instruments: Presentation, which of the following could be classified…

A: Assets: Assets are resources (property) presented in the balance sheet because for it an…

Q: Which of the following is supported with a debit memorandum? a.proceeds of bank loan b.collections…

A: The debit memorandum is issued by the bank to notify the depositor about the deductions made from…

Q: Which one of the following is classified as a cash or cash equivalent? Select one: a. Prepaid…

A: Cash and cash equivalent means that highly liquid assets which can be converted in to known amount…

Q: Which of the following are reported as liabilities on a bank’s balance sheet?   Group of answer…

A: Balance sheet: This financial statement reports a company’s resources (assets) and claims of…

Q: When the guarantor (the guarantor) violates the terms of the guarantee in the case of a letter of…

A: Answer is (c)

Q: What are the risk-adjusted on-balance-sheet assets of the bank as defined under the Basle Accord?

A: The answer is stated below:

Q: a bank that meets a deposit withdrawal by selling t-bills will alter: neither the asset nor…

A: Selling T-bills will alter asset side and meeting a deposit withdrawal will alter liability side.

Q: A bank's required reserve ratio is equal to: Checkable Deposits/Required Reserves   Net Worth/Assets…

A: In the context of the given question, we are required to explain the required reserve ratio which is…

Q: Match definitions with vocabulary terms) Use theseterms to complete the statements that follow. You…

A: Bank reconciliation is the statement which is used to reconcile the bank balance as per cash book…

Q: Bank overdrafts that are repayable on demand

A: Bank overdraft account is a current liability repayable within one year.

Q: If a bank is in a 'state of continuing inability or unwillingness to maintain a condition of…

A: Liquidity is the risk to a bank's earnings and capital arising from its inability to timely meet…

Q: The Undeposited Funds account contains: A) Only partial payments received from customers B) Funds…

A: The undeposited funds account means ro show the amount of the other current assets in assets side of…

Q: A bank reconciliation should be prepared Oa. to explain any difference between the company's balance…

A: Bank Reconciliation: A statement known as Bank reconciliation statement is prepared periodically for…

Q: Deposits made by a company but not yet reflected in a bank statement are called: a.Credit…

A: Bank reconciliation statement: Bank reconciliation statement is to be prepared by the customer of…

Q: A check returned by the bank marked "NSF" means Select one: a. not satisfactorily filled-out. b. not…

A: The bank reconciliation statement is prepared to adjust the balances of cash book and passbook with…

Q: Technically, a bank can require depositors to give prior notice before they withdraw funds from time…

A: Time deposits are deposits in the a bank which has fixed time of maturity. For this deposits,…

Q: Which of the following accounts will not be used in case a security is discounted or collected to…

A: The bank will provide a facility for short-term loans by taking the accounts or notes receivables of…

Q: Write and explain any 10 situations when the Bank Statement balance and Company’s Bank Statement…

A: A bank reconciliation statement reconciles an entity's bank account with its financial records by…

Q: Bank overdrafts are generally reported as:   Question 9 options:   a non-current asset.   a…

A: 9. Bank overdraft is the liability for the business which is payable within 12 months. Hence the…

Q: Bank overdraft is reported in the current asset section of the balance sheet. * True False

A: Bank Overdraft is shown on Current Liabilities side of the Balance Sheet

Q: Which of the following is NOT a criterion for evaluating bank liquidity used by regulators? a.…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Which among the following is not a function of a bank? a. Issuing demand drafts b. Paying interest…

A: A BANK IS A FINANCIAL INSTITUTION LICENSED TO RECEIVE DEPOSITS AND MAKE LOANS . BANK ALSO PROVIDE…

Q: Which of the following statements is false? a. Legally restricted bank deposits held as compensating…

A: Cash and Cash Equivalents Here is related to the Cash and its Equivalents which are relation with…

Q: Which of the following is a bank account from which a company transfers funds from a master account…

A: The banks require funds for the settlements of the accounts, cheques clearance, and other payments.…

Q: As part of the safeguards against imprudent banking, the General Banking Law imposes limits or…

A: As part of the safeguards against imprudent banking, the General Banking Law imposes limits or…

Q: In which of the following withdrawal of funds by a person from a bank can be made on maturity date…

A: Withdrawals from current deposits and saving deposits can be done at any point of time depending on…

Q: Which among the following is not a liquid asset Bills receivable Stock Cash deposited in a bank…

A: The assets can be classified as fixed assets, current assets, and liquid assets.

Q: Bank statements provide information about all of the following, except Group of answer choices bank…

A: The bank reconciliation statement is prepared to equate the balance of cash book and pass book with…

Q: R FALSE? Material overdraft in one bank must be deducted from the another bank's acco

A: Bank overdraft is a negative cash balance where the bank has extended credit when the accountholders…

Q: Choose the function and service of a bank in which Bank Purchases and sells securities, shares and…

A: A bank provides different functions to its customers along with core banking services and some…

Q: Credits given by the bank are: Select one alternative: Bank’s liabilities Credits are not…

A: Credits or loans are lent by the bank to the general public. Bank charges interest on them. This is…

Q: A checking account is: OPTIONS: an asset to a commercial bank. a liability to a commercial bank. an…

A: A checking is a bank saving account which is opened with a commercial bank by a customer. He can…

Q: What item on the bank statement that may differ from the company's financial records.      NSF…

A: The bank  reconciliation statement is prepared to match the balance of Cash in bank statement and…

Q: Identify transaction NOT belonging to Cash Equivalents O a. Bank Balance O b. Bank Overdraft O c.…

A: Cash equivalents are the items that are equivalent to cash means either thise are cash ready or…

Q: riefly explain about Sources of Bank Funds: Bank Liabilities- Deposits/ Non-Deposits. No plagiari

A: Introduction : In simple words, banks are a kind of financial institution that engages in borrowing…

Q: The bank statement issued by bank to its clients can be used as a source document for the following…

A: Source document is the primary and reliable evidence of a business transaction.

Q: in terms of bank balance sheets which of the following is correct?

A: Bank balance sheet shows all sources and uses of bank funds. It's assets represents the uses of…

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.