Commerce Accountancy ยท General Awareness

Banking and Cash Transactions

1,011 Questions

This collection covers essential concepts related to banking and cash transactions. It includes questions on outstanding cheques, petty cash, bank reconciliations, and negotiable instruments. These topics are highly relevant for accounting exams and test practical financial knowledge.

Bank reconciliation statementsCheques and noting chargesPetty cash usageNegotiable Instruments ActCash book entriesStamp Duty Act

Banking and Cash Transactions Questions

Multiple choice softskills communication

CHEQUERED ( The success made people forget their chequered past)

  1. very bad

  2. involving sensational experiences

  3. marked by fluctuations in fortune

  4. very happy
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Chequered means marked by alternating periods of good and bad fortune - a mix of successes and failures. The success made people forget the person's mixed/troubled past. It doesn't mean "very bad" or "very happy" - it specifically means varied/alternating, like a checkerboard pattern.

Multiple choice softskills communication

Bank on something /someone

  1. something or someone you can be sure of.

  2. To cause alot of applause or laughter.

  3. Something that is ordinary or usual.

  4. To become very angry, go into a rage.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

To 'bank on' means to rely or depend confidently on someone or something - like a bank is a sure thing. Option B confuses this with bringing down the house. Option C is about something ordinary, not reliable.

Multiple choice technology packaged enterprise solutions

In Cash Management, AutoReconiliation reconciles and creates Misc Receipt and/or Misc Payment based on setup done in which of the following option

  1. Bank Statement Mappings

  2. Bank transaction Codes

  3. System parameters

  4. Bank Statements
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

In Oracle Cash Management, the AutoReconciliation process uses Bank Transaction Codes to determine how to reconcile transactions and automatically create miscellaneous receipts or payments based on the transaction setup.

Multiple choice technology enterprise content management

The term "Redaction" means

  1. Roll back of transaction in a database

  2. A way of hiding part of an electronic image or document from view

  3. Highlight key content on an image

  4. A director's indication to start digital movies
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Redaction is the process of hiding or obscuring part of an electronic document or image from view, typically to protect sensitive or confidential information. It is not related to database transactions, highlighting content, or movie directions.

Multiple choice technology databases

What are the different type of Check-Out operations

  1. Reserved

  2. Un-reserved

  3. Both a & b

  4. None
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

ClearCase supports both Reserved and Unreserved check-outs. Reserved check-outs lock the file for exclusive use by one developer, while Unreserved check-outs allow multiple developers to work on the same file simultaneously (requiring merge later). Both are valid check-out types.

Multiple choice technology

To balance your checkbook in Excel, your best method is:

  1. Copy your check amounts into Excel so that you'll have a neat printout to work on.

  2. Use Excel to check your arithmetic.

  3. Click Validation on the Data menu.

  4. Download the Checkbook Register template from Templates on Microsoft Office Online.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The best method to balance a checkbook in Excel is to download the Checkbook Register template from Microsoft Office Online templates. This provides a pre-formatted template designed specifically for checkbook management.

Multiple choice technology databases

A Transaction ends

  1. Only when it is Committed

  2. Only when it is Rolledback

  3. When it is Committed or Rolledback

  4. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

To answer this question, users need to understand the concept of transaction management in the database.

A transaction is a sequence of operations performed on a database that must be treated as a single unit of work. It has four main properties - Atomicity, Consistency, Isolation, and Durability. In case, a transaction is not committed, it is rolled back, which means all changes made by the transaction are undone.

Now, let's go through each option:

A. Only when it is Committed: This option is incorrect because a transaction can end in two ways: by committing or by rolling back. If the transaction is committed, the changes made by it are made permanent in the database.

B. Only when it is Rolledback: This option is incorrect because a transaction can end either by committing or by rolling back. If a transaction is rolled back, the changes made by it are undone, and the database is restored to its original state before the transaction began.

C. When it is Committed or Rolledback: This option is correct because a transaction can either be committed or rolled back. Once a transaction is committed or rolled back, it gets over, and the database moves to the next transaction.

D. None of the above: This option is incorrect because, as explained above, a transaction ends either by committing or by rolling back.

Hence, the correct answer is:

The Answer is: C. When it is Committed or Rolledback.

Multiple choice technology

By mentioning the base line date, cash discount periods, and cash discount percentage rate in payment terms, system will calculate

  1. due date of the invoice and cash discount

  2. due date only

  3. cash discount only

  4. all the above

  5. none of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

When payment terms are configured with baseline date, cash discount periods, and discount percentage rates, the SAP system automatically calculates both the invoice due date and the applicable cash discount dates/amounts. This dual calculation enables effective cash management and timely payment processing.

Multiple choice technology testing

When a One Off charge is sent from PSFT, but it is not registered in Billing, what could be the possible causes?

  1. The Charge code sent is not registered in Billing

  2. The Amount configured for Charge code is different in PSFT and Billing

  3. There is a negative amount sent to Billing as a OneOffCharge

  4. Only Amount is sent and no Chargecode is sent.

  5. Billing is down
Reveal answer Fill a bubble to check yourself
A,E Correct answer
Explanation

A One Off charge from PSFT fails to register in Billing primarily when the charge code is not configured in Billing or when the Billing system itself is unavailable. Option A is valid because unregistered charge codes are rejected by validation rules. Option E is valid because system downtime prevents any transaction processing. Options B, C, and D describe scenarios that might cause transaction failures or rejections but would not result in a silent non-registration.

Multiple choice technology testing

PASSIVA :____________ cashbond is non transferable

  1. Physical

  2. Electronic

  3. Fixed Period

  4. Variable Period

  5. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Electronic cashbonds are non-transferable because they are digitally recorded and tied to specific systems or accounts. Unlike physical cashbonds which can be physically handed over, electronic ones exist only within the banking system's records.

Multiple choice technology testing

In Which status will COD money be applied

  1. In Issue

  2. In Pending

  3. In Inforce

  4. In Approved-Hold
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

COD (Collect on Delivery) funds are typically applied when a policy is in Issue status, meaning the policy is being issued and payment is collected during the issuance process.

Multiple choice technology databases

A Transaction ends

  1. Only when it is Committed

  2. Only when it is Rolled back

  3. When it is Committed or Rolled back

  4. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A database transaction always terminates either by being committed (saving all changes) or rolled back (undoing all changes). These are the only two ways a transaction can end. Options A and B are incomplete because transactions can end either way, not just one.