Explanation

In a bank reconciliation, deposits in transit are added to the bank balance.

They represent amounts received and recorded by the company but not yet reflected in the bank's statement.

Explanation

A Bank Reconciliation Statement (BRS) is a statement prepared to reconcile the difference between the bank balance as per the cash book and the balance shown in the bank statement.

It is an external statement and not part of the formal books of accounts.

It serves as a verification tool, not a ledger entry.

Explanation

Digital business infrastructure includes

• Hardware (like computers, devices),
• Software (applications, platforms),
• Servers (for data storage and processing).

These components work together to support digital operations.

Explanation

Explanation

- Monetary policy deals with controlling money supply and interest rates.  

- The Bank rate is the rate at which the central bank lends to commercial banks, a key tool in monetary policy.  

- Market rate, exchange rate, and wage rate are related but not direct monetary policy tools.

Explanation

Keeping passwords in diaries (personal or office) is risky and not recommended.  

- The safest place is your memory to avoid theft or loss.

Explanation

 Customers need assistance (true)  

- They are not an interruption but the reason for your job (true)  

- So, all statements are true, hence "All of the above" is correct.

Explanation

The Quick Ratio (also called acid-test ratio) excludes inventory as it is less liquid.

It focuses on assets that can quickly cover short-term liabilities.

Explanation

Keeping savings in banks is beneficial because:

- It is safe – protected against theft or loss.

- Earns interest – helps your money grow over time.

- Can be withdrawn anytime – offers liquidity and convenience

Explanation

When the real interest rate is high, it generally leads to higher overall interest rates in the economy

Because lenders demand higher returns to compensate for inflation and opportunity costs.