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Q:

In recording an accounting transaction in a double-entry system

A) there must always be entries made on both sides of the accounting equation. B) the amount of the debits must equal the amount of the credits.
C) there must only be two accounts affected by any transaction. D) the number of debit accounts must equal the number of credit accounts.

Answer:   B) the amount of the debits must equal the amount of the credits.



Explanation:
Subject: Bank Interview
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A debit may signify an

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Answer & Explanation Answer: A) Increase in asset account

Explanation:

A debit can signify an increase in asset, an expense, and the owner's drawings. A debit can also signify a decrease in a liability, revenues and owner's equity.

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Loan and Advances of a bank come under the category of______________.

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State Bank of India recently launched 'SBI Exclusif'. It is a ____ product.

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Headquarters of State Bank of India is in

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State Bank of India (SBI) is the largest public sector banks in India. It was the first bank established in India as Bank of Calcutta in 1806 and then Imperial Bank of India and then it became State Bank of India on 1st July 1955. The Headquarters of State Bank of India is in Mumbai, Maharashtra.

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Which of the following terms is not used in banking sector?

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Actuary is the term which is not used in banking sector.

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Foreign Exchange Rates refer to the

Answer

A foreign exchange rate is the price of the domestic currency stated in terms of another currency.

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Financial statements are prepared from which trial balance?

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Answer & Explanation Answer: B) Adjusted trial balance

Explanation:

Financial statements can be prepared from the Adjusted trial balance. A trial balance is a report containing list of all the general ledger accounts i.e, debits and credits contained in the ledger of a business. The types of trial balance include : Unadjusted trial balance, Adjusted trial balance and the Post- closing trial balance.

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A commercial bank is a financial body which performs the functions of accepting deposits from the general public and giving short term loans for investment with the aim of earning profit.

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