Question

Lynette received her bank statement for the month and she is now comparing it with the transactions that she logged in her checkbook register. After calculating the transactions in the statement and he checkbook register, she realized that the statement showed more balance than her checkbook register. What could be the reason behind this discrepancy?

Answer 1

Answer: bank interest payment

Explanation:

The options include:

A. banking fee

B. penalty for exceeding transaction limit

C. bank interest payment

D. ATM withdrawal not logged in the checkbook register.

It should be noted that a banking fee would lead to the reduction in the balance in the statement. The same thing also applies to the penalty for exceeding transaction limit.

But, the bank interest which is the interest given on the money that one saves in a bank will lead to the increase in the statement more than the balance in her checkbook register.