Question

Which of the following items are elements of a monthly checking account statement?
I. A period (beginning date and ending date)
II. A beginning balance and ending balance.
III. A detailed list of debits and credits during the period.
a.
I and II
b.
I and III
c.
II and III
d.
I, II and III

Answer 1

The correct answer is **d. I, II and III**.

All three items listed are typically included in a monthly checking account statement:

I. A period (beginning date and ending date) - The statement covers a specific time frame.
II. A beginning balance and ending balance - These indicate the amount in the account at the start and end of the period.
III. A detailed list of debits and credits during the period - This includes all transactions that occurred within the statement period.

Therefore, all three elements are present in a typical monthly checking account statement.