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State whether the following statement is True or False with reasons: Bank Statement is sent by Bank to businessman. - Book Keeping and Accountancy

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Question

State whether the following statement is True or False with reasons:

Bank Statement is sent by Bank to businessman.

Options

  • True

  • False

MCQ
True or False

Solution

This statement is True.
As a matter of service, the bank provides bank statement to account holder because the bank statement is a summary of financial transactions which have taken place over a given period of time between the bank and his customer.
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Chapter 6: Bank Reconciliation Statement - Exercises [Page 206]

APPEARS IN

Balbharati Book Keeping and Accountancy [English] 11 Standard Maharashtra State Board
Chapter 6 Bank Reconciliation Statement
Exercises | Q 6. 5. | Page 206

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