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Bank Reconciliation Statement — Flashcards

NIOS · Class 10 · Accountancy

40 flashcards for Bank Reconciliation Statement (NIOS Class 10 Accountancy) to test yourself on key terms and facts.

43 questions40 flashcards5 concepts

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40 Flashcards·
Meaning of BRSNeed of BRSBooks of accountCash Book vs Pass BookCauses of differenceCheques issued but not presentedRules for BRS
Card 1Meaning of BRS

What is a Bank Reconciliation Statement?

Answer

A Bank Reconciliation Statement is a statement reconciling the balance shown by the bank passbook and the balance shown by the Bank column of the Cash Book. It is prepared periodically to find the rea…

Card 2Need of BRS

Why is a Bank Reconciliation Statement prepared?

Answer

The objective of preparing a Bank Reconciliation Statement is to know the causes of difference between the Cash Book balance and the Pass Book balance and to reconcile those differences.

Card 3Books of account

What is the Cash Book in bank transactions?

Answer

Cash Book is the record maintained by the trader or businessman. It has a bank column that records all banking transactions from the firm's side.

Card 4Books of account

What is the Pass Book or Bank Statement?

Answer

Pass Book or Bank Statement is a copy of the firm's account as maintained by the bank in its own ledger and sent to the customer. It records transactions from the bank's side.

Card 5Cash Book vs Pass Book

What is the main difference between a Cash Book and a Pass Book?

Answer

The Cash Book is maintained by the trader and records banking transactions from the firm's side. The Pass Book is maintained by the bank and shows the firm's account from the bank's side. If all trans…

Card 6Causes of difference

Why can the Cash Book and Pass Book balances differ even when transactions are correctly recorded?

Answer

Differences can arise because some items are recorded earlier in one book than the other, such as cheques issued but not yet presented, cheques deposited but not yet collected, direct deposits by cust…

Card 7Cheques issued but not presented

What happens when cheques are issued but not yet presented for payment?

Answer

These cheques are shown on the payment side of the bank column of the Cash Book, so they reduce the bank balance as per Cash Book. The bank debits the firm's account only when the cheques are presente…

Card 8Rules for BRS

How are cheques deposited but not yet collected treated when starting from Cash Book balance?

Answer

They are subtracted. The Cash Book shows the deposit immediately, but the bank has not yet credited the amount, so the Pass Book balance is lower.

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Frequently Asked Questions

What are the important topics in Bank Reconciliation Statement for NIOS Class 10 Accountancy?
Key topics in Bank Reconciliation Statement include Meaning and Need of BRS, Causes of Difference Between Cash Book and Pass Book, Rules for Preparing BRS, Illustrations and Important Answers. Study these first, then practise questions on each for the NIOS Class 10 board exam.
How many flashcards are available for Bank Reconciliation Statement?
There are 40 flashcards for Bank Reconciliation Statement covering key definitions, facts and ideas. A few sample cards are shown on this page.
How should I revise Bank Reconciliation Statement for the NIOS Class 10 board exam?
Learn the core ideas first, then work through the 43 practice questions on Bank Reconciliation Statement. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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