Accounting · Bank Reconciliation Statement

With respect to a Bank Reconciliation Statement (BRS), which of the following statements is INCORRECT?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1A bank passbook is also known as a bank statement.
2A bank reconciliation statement is an integral part of the passbook.✓
3Bank charges increase the debit balance as per the bank passbook.
4A credit balance in the passbook indicates an excess of deposits over withdrawals.

Correct answer

A bank reconciliation statement is an integral part of the passbook.

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