Question 2:

The statement that explains the causes of differences between the cashbook and bank statement is called:

A. Bank statement

B. Financial statements

C. Statement of profit and loss and other comprehensive income

D. Bank reconciliation statement

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A bank statement is prepared by:

A. Financial institution

B. Accountant of the customer

C. Auditors

D. None of the above

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Cheques issued but not yet presented to the bank are called:

A. Unpresented cheques

B. Dishonoured cheques

C. Uncollected cheques

D. Uncleared cheques

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a debit balance on the bank statement is an unfavourable balance?

A. True

B. False

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A credit balance on the cashbook is a favourable balance?

A.True

B. False

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The bank balance as per bank statement is shown on the statement of financial position at the end of the year?

A. True

B. False