PRC-1 · Chapter 9 · Question 65 of 100
Which of the following correctly defines 'uncleared lodgements'?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Cheques received and deposited into the bank but not yet credited to the account by the bank.
Explanation
Uncleared lodgements (or uncredited cheques) are receipts that have been banked but haven't hit the bank statement yet due to banking clearing delays.
More Bank Reconciliations MCQs
- Q67A cheque of Rs. 450,000 issued by a customer as an advance was deposited but later returned by the bank as dishonoured. What is the…
- Q68Which of the following causes a difference between the cash book and bank statement balances but does NOT require an adjusting entry in…
- Q69The bank incorrectly debited the business's account by Rs. 5,000 for a cheque drawn by another company. How should this be handled when…
- Q70A standing order payment for insurance was executed by the bank but not recorded in the cash book. How should this be addressed?
- Q71Which of the following is the standard formula to reconcile a favorable cash book balance to the bank statement balance?