Which of the following statements is correct? A. A bank statement must be mailed to customers each month. B. Physical copies of canceled checks must be included in the monthly bank statement. C. The bank statement does not include an ending balance of the customer's account because the bank cannot determine which checks have been cashed during the statement period. D. A bank statement is a document from the bank that reports the activity in the customer's account.

Question

Camryn Ford

Business

6 December, 21:49

Which of the following statements is correct? A. A bank statement must be mailed to customers each month. B. Physical copies of canceled checks must be included in the monthly bank statement. C. The bank statement does not include an ending balance of the customer's account because the bank cannot determine which checks have been cashed during the statement period. D. A bank statement is a document from the bank that reports the activity in the customer's account.

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Answers (2)

Know the Answer?

Kaylah Mathews · Answer 1

The correct answer is 'A'

Explanation:

A bank statement refers to a document that is a part of the statement of account of a customer that is sent to the customer by the bank every month. It also summarizes the transactions of the account held by the customer within a month.

Aliya Serrano · Answer 2

The correct answer is letter "D": A bank statement is a document from the bank that reports the activity in the customer's account.

Explanation:

Bank statements are the reports of the activities of account holders' accounts over a certain period of time that tends to be one (1) month. In the statement charges, withdrawals and payments are reported including the balance the account holder has available at the end of the period.

Bank statements are useful for account holders to keep track of their transactions to prevent fraudulent activities. Account holders have the option to be sent their bank statements at home or to their e-mail addresses if desired.