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State whether the following statement is True or False with reasons: Direct deposit made by debtors into businessman's bank account is recorded on the credit side of Pass Book. - Book Keeping and Accountancy

MCQ
True or False

State whether the following statement is True or False with reasons:

Direct deposit made by debtors into businessman's bank account is recorded on the credit side of Pass Book.

Options

  • True

  • False

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Solution

This statement is True.
As businessman is unaware of any amount directly deposited by debtors into a businessman‘s bank account. He is not in a position to record it in cash book while it is already recorded on the credit side of pass book.
  Is there an error in this question or solution?
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APPEARS IN

Balbharati Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board
Chapter 6 Bank Reconciliation Statement
Exercise Q.6 | Q 2 | Page 206
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