Choose the letter of the correct answer.

1. It refers to checks issued and delivered to the designated a. NSF Checks b. Post dated checks c. Outstanding Checks d. Stale checks

2. It is an addition from account that were instructed by the depositor to bank. a. Debit Memo b. Interest earned C. Credit Memo d. Notes Receivable 3. It is a deduction from account that were instructed by the depositor to the bank. a. Debit Memo b. Interest earned c. Credit Memo d. Notes Receivable 4. Examples of bank charges except for :

a. Accepting deposits b. Mailing the bank statement c. Posting checks d. Errors 5. Mistakes committed either by the bank or by the depositors. a. Accepting deposits b. Mailing the bank statement c . Posting checks d. Errors 6. The effect of deposit in transit in the bank reconciliation statement is a. Decrease/increase b. Decrease C. Increase d. No effect 7. The effect of outstanding checks in the bank reconciliation statement is a. Decrease/ increase b. Decrease C. Increase d. No effect 8. The most common method used by companies in bank reconciliation except a. Adjusted method b. Bank to book method c. Book to bank method d. Book to book method