Self Assessment Quizzes

CHAPTER 11: Section 2 Reconciling the Bank Statement

	1.	An itemized record of all transactions in a depositor`s account over a given period is called a

		a.	reconciliation report
		b.	outstanding check statement
		c.	bank statement
		d.	service statement

	2.	When reconciling the bank statement, the checks should be sorted in

		a.	date order
		b.	date of clearance order
		c.	numerical order
		d.	short order

	3.	Checks which have not yet cleared the bank are called

		a.	open checks
		b.	cleared checks
		c.	closed checks
		d.	outstanding checks

	4.	Checks that are paid by the bank and deducted from the depositor`s account are called

		a.	paid
		b.	canceled
		c.	outstanding
		d.	lost

	5.	The process of determining any differences between a checkbook and a bank statement is called

		a.	reconciling the bank statement
		b.	reconciling the service statement
		c.	accounting for outstanding checks
		d.	closing the books

	6.	Comparing the checkbook balance with the general ledger is also called

		a.	proving cash
		b.	cash adjustment
		c.	balance proof
		d.	proof of entry

	7.	To record bank charges the journal entry would be

		a.	debit Cash in Bank and credit Miscellaneous Expense
		b.	debit Miscellaneous Expense and credit Cash in Bank
		c.	debit Cash in Bank and credit Accounts Payable
		d.	debit Accounts Payable and credit Cash in Bank