answersLogoWhite

0

What is a accurate statement?

Updated: 9/25/2023
User Avatar

Wiki User

8y ago

Want this question answered?

Be notified when an answer is posted

Add your answer:

Earn +20 pts
Q: What is a accurate statement?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Accounting

Can one have an accurate income statement and an accurate balance sheet both at the same time?

yes


How does the balance in the checkbook compare to the balance on a bank statement?

In almost all cases, the balance between the check book and bank statement will not match because any transactions that you did using your ATM/Debit Card will not be recorded in your check book. The balance on your bank statement will be accurate and that shows the actual amount of money you have in your account. If you do not use your check book frequently then the entries in it may be old and outdated.


What does an asterisk mean beside a check number on a bank statement?

An asterisk (*) beside a check number on a bank statement usually indicates that there is additional information related to that particular transaction. This additional information may be found elsewhere on the statement or in an attached document, such as a copy of the check or a receipt. The purpose of the asterisk is to draw attention to the fact that there is more information available for that particular transaction, so the account holder can review it and ensure that the transaction was authorized and accurate.


Is income statement same as financial statement?

no. income statement is a only a statement in financial statements.


Is the Bank Reconciliation statement a part of financial statement?

Bank reconciliation statement is not part of financial statement it is the helping statement to tally bank account with balance in banks statement.