The importance of bank statement is all except
- verifies the accuracy of balances of cash book and cheque book
- helps to detect and rectify any error
-
helps to debit an account
- helps to update the cash book
The correct answer is: C
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.