What are the most common transactions that appear on a bank statement?(1 point)
Responses
deposits
deposits
interest rate
interest rate
transfers
transfers
A and C
Correct, the most common transactions that appear on a bank statement are deposits and transfers.
What is an income statement? (1 point)
Responses
a list of all sources of income
a list of all sources of income
a statement that compares assets to liabilities
a statement that compares assets to liabilities
a statement of sales over time compared to COGS at any point of time
a statement of sales over time compared to COGS at any point of time
a statement that compares revenues to expenses and presents the net income (or loss) from a period of time
The most common transactions that appear on a bank statement are:
A) Deposits
C) Transfers
These transactions are typically documented on a bank statement and provide a record of the funds being deposited into the account and any transfers made from the account to other accounts.
The correct answer is A and C - deposits and transfers.
To determine the most common transactions that appear on a bank statement, you would typically review a bank statement. A bank statement is a document provided by a financial institution that lists all the transactions that have occurred in a specific account for a given period, usually a month.
Upon reviewing a bank statement, you might come across several types of transactions. Deposits, also known as credits, are transactions where money is added to the account. This can include salary deposits, deposits from other individuals or businesses, or any other form of funds being added to the account.
Transfers, on the other hand, refer to transactions where money is moved from one account to another. This can include transferring money between your own accounts within the same bank or transferring funds to another person or entity's account.
Interest rate, mentioned in the options, is not a transaction that typically appears on a bank statement. Instead, interest earned on savings accounts or charged on loans is often summarized and included as a separate line item on the statement.
Therefore, the most common transactions that appear on a bank statement are deposits and transfers.