Question

Which of the following statements is correct? A. Physical copies of canceled checks must be included in the monthly bank statement. B. 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. C. A bank statement must be mailed to customers each month. D. A bank statement is a document from the bank that reports the activity in the customer's account.

Answer 1

Answer:

The correct option is D.

Explanation:

The statement which is correct and true is the one that states the bank statement is a document which is received from the bank and it records the activity or transactions of the customer in the account because the bank statement is the only document which records the transaction of the customer account.

Therefore, the correct option is D.