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Question
State whether the following statement is True or False with reasons:
Cheques deposited into bank but not yet cleared appears in the Pass Book only.
Options
True
False
MCQ
True or False
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Solution
This statement is False.
Cheques deposited into bank should be recorded first on the debit side of cash book and after receiving the amount by bank, bank will credit it. Thus, uncleared cheques appear in the cash book only.
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