Which of the following statements about the bank statement is NOT true?
A) The bank statement shows the amount payable by the customer.
B) The bank statement summarises the activity in a cheque account.
C) If the customer of the bank has a substantial bank overdraft,the closing balance will normally be a debit.
D) It is the source document for bank charges.

Question

Quizplus · Accepted Answer

The bank statement does not show the amount payable by the customer, but rather the balance in the account after all transactions have been processed. The amount payable by the customer would be shown on an invoice or bill.

Which of the Following Statements About the Bank Statement Is