Question on: JAMB Accounting - 2019
The importance of bank statement is all except
A
verifies the accuracy of balances of cash book and cheque book
B
helps to detect and rectify any error
C
helps to debit an account
D
helps to update the cash book
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Correct Option: C
A bank statement is a list of all transactions for a bank account over a set period, usually monthly. The statement includes deposits, charges, withdrawals, as well as the beginning and ending balance for the period.Â
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