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Bank Statement - SS1 Accounting Past Questions and Answers - page 1

1

What is a bank statement?

A

A document that shows all the transactions made on a particular account over a given period

B

A document that shows the account holder's personal information

C

A document that lists the bank's policies and procedures

 

correct option: a
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2

How often are bank statements typically generated?

A

Monthly

 

B

Quarterly

C

Annually

correct option: a
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3

What does a bank statement help account holders do?

A

Keep track of their account balance

 

B

Apply for a loan

C

Open a new account

correct option: a
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4

What can bank statements be helpful for?

A

Budgeting and financial planning

B

Tracking social media activity

C

Planning a vacation

correct option: a
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5

How are bank statements usually delivered to account holders?

A

Mailed to their address or available online

B

Delivered in person to their home

C

Faxed to their office

correct option: a
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6

What is the purpose of a bank statement?

The purpose of a bank statement is to help account holders keep track of their account balance and ensure that all transactions are accurate. It also provides a record of all the transactions that have been made in the account, which can be helpful for budgeting and financial planning.

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7

How can bank statements be accessed?

Bank statements can be accessed either by mail or online through the bank's website or mobile app.

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