Practice Bank Charges Or Interest (3.2.3) - Bank Reconciliation Statement

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9 questions

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Exercise
6 questions · about 4 min · pass mark 70%. Hints available.
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Quiz
3 questions · about 2 min · pass mark 70%. Hints available.
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6 sample questions

Question 1.
What are bank charges?
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Think of the fees associated with your bank account.
Question 2.
What happens if interest on deposits is not recorded?
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Consider how that affects your overall cash flow.
3Question 3.
What are bank charges?
- Fees for account maintenance
- Revenue from interest
- Loan payments
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Think about costs associated with having a bank account.
4Question 4.
Interest on overdrafts is recorded in which part of the financial statements?
- True
- False
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Consider what might happen if it is not recorded.
Question 5.
A company received an overdraft interest charge of ₹200. If the cash book initially recorded ₹7,000, what should be the new cash book balance?
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Subtract the interest charge from the original cash book balance.
Question 6.
If a business is unaware of a ₹350 maintenance fee, how does this affect their financial decisions for that month?
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How would missing fees impact budgets?

5 more questions in this section. Enroll free to practise them all.