Economics · Accounting
Who issues a 'statement of account' and why is it issued in standard business transactions?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A business issues a statement of account to all credit customers and suppliers to advise them of the amount outstanding or due.
- 2A business issues a statement of account to credit customers to advise them how much the customer owes the business.✓
- 3A business issues a statement of account to cash customers to advise them how much they have purchased in the previous month.
- 4A business issues a statement of account to those suppliers it still owes money to, advising them of the amount outstanding.
Correct answer
A business issues a statement of account to credit customers to advise them how much the customer owes the business.
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