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Question
When money is withdrawn from bank, the bank ______.
Options
Credits customer’s account
Debits customer’s account
Debits and credits customer’s account
None of these
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Solution
When money is withdrawn from bank, the bank Debits customer’s account.
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RELATED QUESTIONS
Do you agree or disagree with the following statement:
Bank Reconciliation Statement is prepared only during the year end.
Select the most appropriate alternative from those given and rewrite the following statement:
Bank Reconciliation Statement is prepared by _________.
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Bank Reconciliation Statement is prepared by Bank.
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- Payment side of Cash Book was undercast by ₹ 100.
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From the following particulars prepare Bank Reconciliation Statement as on 30th June 2019.
- Credit balance as per Pass Book ₹ 20,000.
- A cheque for ₹ 3,500 was issued and paid by bank, recorded in Pass Book as ₹ 5,300.
- Cheque deposited ₹ 9,700 collected by bank was not recorded in Cash Book.
- Payment side of Cash Book was undercast by ₹ 100.
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