CAT Questions

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Geraldine Mock "Jerry" was the first woman to fly around the world successfully in the year 1964.

Debts owed by a business are referred to as Liabilities. Liabilities include all loans, outstanding expenses, mortgages, creditors, etc...

If an object moves with some velocity that means the magnitude and direction of the object changes i.e, the object moves with some acceleration. Hence, if the object moves with constant velocity, no change in direction and magnitude of speed i.e, no acceleration = 0 acceleration.

The new MD & CEO of Corporation Bank was Jai Kumar Garg. Before this, he was Executive Director at UCO Bank.

A Bank Reconciliation Statement is a statement prepared periodically by a customer to explain the divergence (difference) between the bank balance as per cash book and the bank balance as per Pass Book. It clearly shows the two differing balances and the outstanding items which causes the balances to disagree.

The objective of preparing such a statement is to know the causes of differences between the two balances and pass necessary correcting or adjusting entries in the books of the firm. But it is to be noted that some differences are automatically adjusted. For example - A cheque that has been sent for collection, but not yet collected, causes a difference between the balance as shown by the pass book and the balance as shown by the cash book, but no adjusting entry is required in the cash book for such a difference because, the bank will credit the firm’s account as soon as the cheque is collected.