Bank Statement

What is the primary purpose of a bank statement?

• To provide a record of all financial transactions in an account.

• To offer investment advice to account holders.

• To serve as a monthly bill for bank services.

Which of the following details are typically included in a bank statement?

• Account balances, deposits, withdrawals, and fees.

• Personal credit score and loan eligibility.

• Stock market performance and investment portfolio.

• Future financial forecasts and economic predictions.

What is a key benefit of regularly reviewing your bank statement?

• To receive promotional offers from the bank.

• To track spending habits and identify fraudulent activity.

• To automatically update your credit score.

• To enroll in new banking programs.

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How is the ending balance on a bank statement typically calculated?

• By adding all withdrawals and fees to the beginning balance.

• By subtracting all deposits from the beginning balance.

• By adding all deposits and subtracting all withdrawals and fees from the beginning balance.

• By only considering the total amount of checks paid.