The importance of bank statement is all except

Accounts - Principles of Accounts

JAMB 2019

A. verifies the accuracy of balances of cash book and cheque book
B. helps to detect and rectify any error
C. helps to debit an account
D. helps to update the cash book

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Correct Answer: Option C

Explanation

Bank statement is prepared by the bank to an account border showing the transactions between the customer and the bank within a period of time. It is usually issued monthly or at agreed intervals to the customers.

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The importance of bank statement is all except

Correct Answer: Option C

Explanation

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