alleryStart learning →The start date of a bank statement period is usually
AThe first day of the calendar year
BThe last day of the financial year
CThe day after the previous period ended
DThe date of the account opening
Answer & Solution
Correct answer: C. The day after the previous period ended
Statement periods run back to back, so each begins the day after the last one ended.
Keep practising Bank Reconciliation Statement
Browse all Bank Reconciliation Statement questions for CA Foundation, or explore more Accounting topics.
Related questions
Passbook exceeds the cash book. Which is the likely cause?After reconciling, differences caused by the firm's own errors are fixed inCustomers commonly use bank statements toWhich is not a usual reason for a cash book and passbook difference?A discrepancy found during reconciliation may be recorded as aThe purpose of account reconciliation under GAAP is to provideIssuing a cheque without adequate funds and depositing cover later is calledMICR information on cheques mainly supports