Bank Statement - SS1 Accounting Past Questions and Answers - page 1
What is a bank statement?
A document that shows all the transactions made on a particular account over a given period
A document that shows the account holder's personal information
A document that lists the bank's policies and procedures
How often are bank statements typically generated?
Monthly
Quarterly
Annually
What does a bank statement help account holders do?
Keep track of their account balance
Apply for a loan
Open a new account
What can bank statements be helpful for?
Budgeting and financial planning
Tracking social media activity
Planning a vacation
How are bank statements usually delivered to account holders?
Mailed to their address or available online
Delivered in person to their home
Faxed to their office
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.
How can bank statements be accessed?
Bank statements can be accessed either by mail or online through the bank's website or mobile app.