Accounting · Bank Accounting principles
Analyze the following statements regarding accounting entries in commercial banking operations: 1. Treasury operations involve the daily 'Mark-to-Market' of the investment portfolio. 2. Direct debits for utility bills require a debit to the customer and credit to the utility company. 3. Banks maintain special controls/ledgers over 'Dormant Accounts' (no activity for over 2 years). 4. Internal entries for 'Cash in Transit' involve moving funds between branches/chests. Which combination of statements reflects correct bank accounting practices?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1All statements are incorrect.
- 2Statements 2, 3 and 4 are correct.
- 3Statements 1, 2 are correct but others are incorrect.
- 4Statements 1, 2, 3 and 4 are correct.✓
Correct answer
Statements 1, 2, 3 and 4 are correct.
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