At the end of a certain period of time (for example, one month, three months, etc.-each banking institution has its own regulations), the bank provides the depositor with a profit and loss statement showing the activity of the account during that time period.

Question

Quizplus · Accepted Answer

Banks provide account statements or bank statements, not profit and loss statements, to show the activity of the account during a specified period. Profit and loss statements are financial documents used by businesses to show their revenues, expenses, and profits or losses over a period of time.

At the End of a Certain Period of Time (For