SSC CGL Finance – Bank Reconciliation Statement – Level 1 · Warm-up
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Cash in the till never touches the bank account.
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SSC CGL Finance – Bank Reconciliation Statement – Level 1 · Warm-up – 12 questions, subject: Finance & Economics (Tier II Paper III). Every question has the correct answer with a one-line explanation; tap "Show Answer". Free practice for TNPSC, UPSC, SSC, Bank and RRB exams – Shanmugam IAS Academy, Coimbatore.
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1.
A pass book is a copy of:
Correct Answer: A [The customer's account in the bank's books]
Explanation:
The bank writes up the customer's account and gives a copy – the pass book / statement.
2.
A favourable (positive) balance in the pass book is a:
Correct Answer: C [Credit balance]
Explanation:
The bank owes the customer – credit in the bank's books.
3.
A bank overdraft in the cash book appears as a:
Correct Answer: D [Credit balance]
Explanation:
Payments exceed deposits – credit balance in the bank column.
4.
Starting from a favourable cash book balance, cheques issued but not yet presented are:
Correct Answer: B [Added]
Explanation:
They reduced the cash book but not yet the bank balance.
5.
Starting from a favourable cash book balance, cheques deposited but not yet credited are:
Correct Answer: D [Deducted]
Explanation:
The cash book counted them; the bank has not.
6.
Starting from a favourable cash book balance, bank charges debited only in the pass book are:
Correct Answer: C [Deducted]
Explanation:
Only the bank knows; they lower its balance.
7.
Starting from a favourable pass book balance, interest allowed by the bank (not in the cash book) is:
Correct Answer: B [Deducted]
Explanation:
Only the starting record (pass book) has it – reverse it.
8.
A Bank Reconciliation Statement is:
Correct Answer: A [A statement, not part of the double entry]
Explanation:
It only explains the difference; the cash book is corrected separately.
9.
Starting from a favourable cash book balance, an amount deposited directly by a customer into the bank is:
Correct Answer: D [Added]
Explanation:
Only the bank knows; it raises the bank balance.
10.
Fill in the blankAn overdraft as per pass book is a ______ balance in the pass book.
Correct Answer: B [debit]
Explanation:
The customer owes the bank – debit in the bank's books.
11.
Starting from a favourable cash book balance, a deposited cheque later dishonoured (recorded only by the bank) is:
Correct Answer: A [Deducted]
Explanation:
The bank has reversed the deposit; the cash book still includes it.
12.
Which of the following is NOT a cause of difference between the cash book and the pass book?
Correct Answer: C [Cash sales of goods paid into the till]
Explanation:
Cash in the till never touches the bank account.
➤ Full notes, shortcuts and every answer explained – SSC CGL 2026 Finance & Economics (Tier II Paper III) book (₹149): www.shanmugamiasacademy.in/study-materials/ssc-cgl-finance-economics
📘 SSC CGL 2026 – General Studies – Finance & Economics (Tier II Paper III)
Here you get the answer with a one-line explanation. 1,064 original questions with worked answers · Part A Finance & Accounts and Part B Economics & Governance notes · practice sets + 3 mock tests
Get the book – ₹149 More quizzes
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