The documents that provide instant information to firms on their tranactions with banks are

The documents that provide instant information to firms on their tranactions with banks are

  • A.
    bank statement and debit note
  • B.
    cheque book and cashbook
  • C.
    cheque stub and deposit slip
  • D.
    payslip and credit invoice
Correct Answer: Option A
Explanation

Bank statement is a printed record of the balance in a bank account and the amounts that have been paid into it and withdrawn from it, issued periodically to the holder of the account.

A debit note is a document sent by a buyer to seller or in other words a purchaser to a vendor notifying that a debit has been made to their accounts. A debit memo on a company’s bank statement refers to a deduction by the bankfrom the company’s bank account. In other words, a bank debit memo reduces thebank account balance similar to a check drawn on the bank account.

 

 

 

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