Question

All of the following are true regarding bank statements except the bank statement will show a credit for deposits received from a company. the bank statement balance will always agree with the company recorded balance. the bank statement will show a debit if a check is paid for a company issuing the check. the bank statement is a copy of the bank's records sent to the customer for periodic review.

Answer 1

Answer: the bank statement balance will always agree with the company record balance

Explanation:

A bank statement refers to the list of all the transactions for a bank account due a particular period of time. The bank statement consists of charges, withdrawal, deposits, etc.

The option that isn't true about bank statement is that the bank statement balance will always agree with the company record balance.

This is incorrect as the bank statement and the company record balance msy not agree because of timing difference with regards to the recording of transactions.