Asked/Added Questions From NCERT:

1. Highlights causes of difference , necessary adjustment can therefore be carried out at early date.

2. Reduce chances of fraud.

3. Act as a moral check.

4. Actual position of bank balance can be found.

-Answered by nisha sheikh On 16 August 2020:10:35:31 AM

 A bank reconciliation statement is a statement which is prepared to reconcile the balance as per cash book with the balance as per pass book.

-Answered by nisha sheikh On 16 August 2020:10:32:03 AM

1. Pass book is maintained by a bank whereas Cash book is maintained by a customer.

2. In pass book, transactions are recorded from the point of view of bank whereas in Cash book they are recorded from point o view of client.

3. Entries done in the Cash book are exactly opposite to that posted in pass book.

-Answered by nisha sheikh On 16 August 2020:10:26:34 AM

 Overdraft is a facility where by a customer is allowed to draw more than the amount deposited in his account.

-Answered by nisha sheikh On 16 August 2020:10:23:05 AM

1. Current Account 

2. Savings Account

3. Fixed Deposit Account

4. Recurring Deposit Account

-Answered by nisha sheikh On 16 August 2020:10:20:03 AM