logo

CuriousTab

CuriousTab

Discussion


Home Interview Accounting and Finance Comments

  • Question
  • What is reconciliation ?


  • Correct Answer
  • You should have recorded in your cash books all amounts you have actually received and payments you have actually made However the cash books may be incomplete as your bank may have put extra transactions through your account such as: ? bank fees or interest charges ? direct debits (payments) and direct credits (receipts) Doing a regular bank reconciliation will allow you to: ? take into account any extra transactions your bank puts through your account and ? check and record any errors or omissions By regularly doing a bank reconciliation (say monthly) you can be more confident that your records contain all the information you need to prepare your income tax return and activity statements 

  • Tags: Bank Clerk, Bank PO

    Accounting and Finance problems


    Search Results


    • 1. what is the difference between the terms 'credit' and 'debit' from the customer point of view?
    • Discuss
    • 2. What is 3 Way Matching?
    • Discuss
    • 3. What do you understand by Intercompany Settlement?
    • Discuss
    • 4. How does the payment mechanism work?
    • Discuss
    • 5. What is meant by liabilities ?
    • Discuss
    • 6. What is the Debit Balance recovery? How we can recover if we won?t have any future transactions from supplier ?
    • Discuss
    • 7. Liabilities are defined as
    • Discuss
    • 8. Which of these is an example of eminent domain?

    • Options
    • A. a corporator forces public for sell their lands to him
    • B. a state forces people to sell their fields for building highway
    • C. Both A & B
    • D. None of the above
    • Discuss
    • 9. A debit signifies a decrease in

    • Options
    • A. revenues
    • B. liability
    • C. owner's equity
    • D. All of the above
    • Discuss
    • 10. Which capital gains tax on property?
    • Discuss


    Comments

    There are no comments.

Enter a new Comment