The importance of bank statement is all except?

A. verifies the accuracy of balances of cash book and cheque book
B. helps to detect and rectify any error
C. helps to debit an account
D. helps to update the cash book

Correct Answer: Option C

C. helps to debit an account

Explanation

Bank statement is prepared by the bank to an account border showing the transactions between the customer and the bank within a period of time. It is usually issued monthly or at agreed intervals to the customers.