A bank does not issue a debit memorandum to notify the depositor of which of the following?
A)All withdrawals through an ATM.
B)A fee assessed to the depositor's account.
C)An uncollectible check.
D)Periodic payments arranged in advance,by a depositor.
E)A deposit to their account.

Question

Quizplus · Accepted Answer

A debit memorandum is used to notify the depositor of a decrease in their account balance, typically due to a fee, withdrawal, or check that was not honored. A deposit to their account would not result in a decrease, so a debit memorandum would not be issued.

A Bank Does Not Issue a Debit Memorandum to Notify